Altcoin Season Index at 23, crypto market in Bitcoin Season

The Altcoin Season Index, a metric tracked by cryptocurrency price data platform CoinMarketCap (CMC), registered 23 at 00:30 UTC on May 7, the same as the previous day. This signals that the market is currently in Bitcoin Season. The index, which excludes stablecoins and wrapped tokens, compares the performance of the top 100 coins on CMC over the past 90 days. For the market to be in Altcoin Season, at least 75% of these coins need to have outperformed Bitcoin. Conversely, Bitcoin Season occurs when 25% or fewer manage to do so. The index scores range from 1 to 100.