Altcoin-to-Bitcoin Ratio Gives Back Gains Since Aug. 17

Bitcoin (BTC) stayed above its 50-week simple moving average for two months after its Aug. 17 weekly close, while the total-altcoin-market-to-Bitcoin ratio later erased gains and returned to its Aug. 17 level. The total altcoin market’s relative performance against BTC improved from Aug. 17 through Sept. 28, then gave back those gains. On Oct. 23, the 90-day gauge put the top-50 altcoin basket at 51, below its 75-point threshold for altcoin-season territory. It compares the basket’s performance with BTC over 90 days, while the earlier ratio tracked the total altcoin market over a different period.