Analysis: Bitcoin consolidates around $84,000 as altcoin rally continues

PANews reported on September 25, citing CoinDesk, that as Bitcoin consolidates around $84,000, altcoins are broadly strengthening. Over the past 24 hours, the CoinMarketCap Altcoin Season Index rose to 56, a notable increase from 45 a week ago and 38 a month ago, hitting a more than three-month high. After Bitcoin climbed from below $63,000 in August to nearly $87,000 on Tuesday this week, it entered a consolidation phase, with capital beginning to rotate into altcoins. Tokens such as Chainlink (LINK), ICP and Bittensor (TAO) all saw price gains.