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As the crypto market enters the fear zone, discussions about altcoin season continue.
The sentiment in the crypto market has shifted to fear, with sentiment sources indicating that investors are temporarily retreating on the risk curve.
Obviously, investors are losing interest in obscure altcoins and are discussing which major asset will break out next.
The crypto market seems to be increasingly focused on large market cap crypto assets like Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP). The heightened attention on large cap coins may indicate that investor sentiment is becoming more cautious or risk-averse.
The price of Bitcoin "remains volatile"
This occurs at a time when investors are increasingly calling for a season of altcoins. However, this may have to wait until more crypto ETFs are launched later this year.
Meanwhile, on Sunday, the Crypto Fear & Greed Index, which measures the overall sentiment of the cryptocurrency market, recorded a "fear" score of 44, down from a "neutral" reading two days prior.
Some investors are also questioning the short-term trend of large-cap assets. Cryptocurrency investors say that the price of Bitcoin is "still volatile."
Bitcoin fell by 5.38% this month, while Ethereum rose by 9.44%.
However, other indicators suggest that the market is still moving down the risk curve.
"The latest altcoin turbulence," the investor said.
On Sunday, the Altcoin Season Index recorded a score of 56 out of 100 for "Altcoin Season." This metric fluctuates between Altcoin Season and Bitcoin Season based on the performance of the top 100 altcoins relative to Bitcoin over the past 90 days.