As of January 22nd, Bitcoin dominance stood at 60.25%, maintaining its dominant position in the crypto market despite a rise in altcoins. Total altcoin market capitalization reached $1.03 trillion, up from $880 billion previously, with a 23% increase for assets outside the top 10, breaking a 1,000-day support level between $150 and $160 billion. On Binance, 56% of altcoins are now trading above their 200-day moving average, compared to just 15-20% last year. However, CoinGlass’s Altcoin Season Index sits at 36, well below the 75 threshold typically associated with a true altseason, indicating that altcoins are rising without yet challenging Bitcoin’s supremacy.
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