$BTC
Altcoin Season Delayed as Fear & Greed Index Stays in Red
The long-awaited altcoin season is still missing as the Crypto Fear and Greed Index remains in the fear zone and Bitcoin dominance continues to rise.
Key Highlights
Altcoin Season Index drops from 55 (July) to 21.
Crypto Fear & Greed Index also falls to 21 (fear zone).
Bitcoin correction is dragging altcoins down.
Upcoming rate cuts and possible Santa Claus rally may support the market.
Altcoin Season Index Slips Deep into Red
According to CMC, the Altcoin Season Index has fallen to 21, signaling that altcoins have significantly underperformed Bitcoin in recent months.
Top Underperformers (Last 3 Months)
Double Zero
Story
Celestia
Ethena
Pudgy Penguins
Cronos
Aptos
Arbitrum
All of these tokens have dropped over 60% in this period.
Meanwhile, Bitcoin Dominance has surged from 37% in January to 58% today.
Ethereum dominance has fallen from 20% to 11%.
Fear & Greed Index Remains in Fear Zone
After the massive October 10 liquidation event—where ~$20B was wiped out—market sentiment turned fearful.
Futures open interest plunged from $225B to $122B
Funding rates flattened
Fear & Greed Index dropped to 21
Kevin O’Leary also warned that most altcoins are “worthless,” adding pressure to the market.
Major meme coins like Shiba Inu and Pepe have also seen heavy declines.
Some Positives Ahead
Despite the downturn, a few bullish indicators remain:
Altcoin seasons often begin when the Altcoin Season Index is deep in red.
Fear zone levels frequently precede market recoveries.
The Federal Reserve is expected to cut interest rates soon.
A possible Santa Claus rally could boost both stocks and crypto.
