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Is the altcoin season far away? The relevant index has only reached 27.
Gate News bot message, crypto assets analyst Lark Davis pointed out on social media that so far, this cycle has mainly revolved around Bitcoin ( BTC ).
Despite Bitcoin reaching an all-time high, the market is completely quiet. The reason is simple: everyone is holding altcoins.
This is why even though Bitcoin is close to its historical high, the altcoin index is only 27 (a true altcoin season starts from 75).
So to be frank: do you think we will see an altcoin season in this cycle?