Deribit Chief Commercial Officer: The altcoin index at 44 is far below the key level of 75, and macro-positive factors are still insufficient to initiate an altcoin season

ChainCatcher news, although macroeconomic factors such as China's economic stimulus policies and the potential interest rate cut by the Federal Reserve in September have released positive signals, the altcoin season has not yet arrived. Deribit's Chief Business Officer Jean-David Péquignot stated that loose central bank policies could indeed increase market liquidity and drive speculative funds into risk assets.

However, the market currently still lacks sufficient trading volume and broad growth momentum. The recent price increase of Ethereum compared to Bitcoin is seen as a potential signal of market change, but it is not enough to trigger a full-blown altcoin season. Additionally, according to the CoinMarketCap Altcoin Season Index, the current reading is 44, well below the critical level of 75. Bitcoin's market dominance remains at 58%, continuing to hold a central position in the cryptocurrency market.