Analyst says altcoin season remains valid despite falling index

An analysis suggests that the altcoin season is not yet over, even amid a sharp drop in CoinMarketCap's Altcoin Season Index. According to The Daily Hodl, noted macroeconomist and trader Henrik Zeberg recently said the OTHER/BTC chart, which compares the total market capitalization of cryptocurrencies excluding Bitcoin to that of BTC, has broken through a key resistance level and turned bullish. Zeberg argued this indicates the altcoin season is still in effect, adding that a break above the current 0.14 level could lead to a rise as high as 0.66.