Altcoin Season Index is witnessing a recovery after a sheer dip in the recent crash of the Bitcoin ($BTC) market. The Altcoin Season Index is going through a rebound at the 27 mark, triggering speculation about a likely entry to a new altseason. This is important at a time when the market is in extreme fear.

Altcoin Season Index Rebounds to 27 Following Reaching Bottom

The current time is very crucial for the altcoin sector as it is experiencing a bounce back. In this respect, the Altcoin Season Index has reached the 27 spot in terms of value. The Altcoin Season Index serves as a key metric to gauge whether the market is supporting alt-coins or Bitcoin. When its value rises above the 75 mark, it normally suggests an altcoin season. Hence, above this point, altcoins outcompete Bitcoin. On the other hand, a value below the 25 mark highlights a Bitcoin-led market. 

At present, the Altcoin Season Index’s value at 27 shows the market’s favor for Bitcoin while also showing signs of inclination toward altcoins. Supporting this, the market data discloses that the Alt-coin Season Index had touched its bottom after the recent Bitcoin crash. However, it is currently displaying signals of a revival.

Whales Continue to Accumulate Alt-coins Silently

Simultaneously, a surge in the trading volume of the altcoins on crypto exchanges is being noticed. This comes alongside the increasing futures liquidations within the altcoin landscape. Moreover, the key alt-coin holders or whales are potentially accumulating silently. The accumulation often prompts the investors’ confidence in the upcoming positive market shifts. Thus, the respective indicators represent a return of interest to the altcoins amid Bitcoin’s turbulent phase.

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Despite the rebound of the Alt-coin Season Index, there is no possibility of a wider Altcoin Season than in the previous cycle. However, the other are still optimistic. Particularly, the altcoins like Neo ($NEO), Bitcoin Cash ($BCH), and XRP ($XRP), have been seeing consolidation for over a couple of market cycles. This lengthened accumulation suggests a probable movement toward substantial price surges.