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Recent Bitcoin price movement The patch has been flagged From an all-time high of $108,135 achieved just a week ago. Although Bitcoin has largely held above the $90,000 level, a correction saw the cryptocurrency fall to as low as $92,500 over the past 24 hours. This decline not only shook confidence in Bitcoin’s immediate trajectory, but also shifted attention towards the altcoin market.
Although the altcoin market This trend has also reversed After the Bitcoin price correction, many investors and analysts expect altcoins to rise very soon. VanEck weighed in on this prediction with a confident announcement on the social media platform
Altcoin season has already arrived – VanEck
Bitcoin, the leading cryptocurrency, has Struggle to maintain price momentum Above the $100,000 level, raising questions about where the market might go next. While many Bitcoin supporters are We expect a renewed increase in 2025 With the incoming Trump administration in the United States and other cryptocurrency analysts They are turning to the altcoin market. Interestingly, suggest analysts at VanEck The current crypto environment may favor altcoins versus Bitcoin.
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Matthew Siegel, head of digital research at VanEck, explained this phenomenon, explaining that Bitcoin’s dominance in terms of market cap, liquidity, and volume often lays the foundation for altcoins to outperform. According to Siegel, as capital flows into the market, risk sentiment tends to boost emerging cryptocurrency applications, particularly those related to decentralized finance, gaming, and non-fungible tokens, which in turn allows the altcoin market to outperform Bitcoin.
VanEck’s altcoin season forecast also highlighted data from Artemis’ Altcoin Season Index, which measures how many of the top 50 altcoins outperform Bitcoin over a 90-day period. According to this indicator, which ranges from 0 to 1, the altcoin season begins with a reading of 0.6. At the time of writing, the index is well above this level, recently reaching 0.8. This indicates that the cryptocurrency industry is currently going through an altcoin season where profits taken from Bitcoin will start flowing into the top altcoins.
Differing views on current metrics
Interestingly, Artemis’ Altcoin Season Indicator differs from traditional metrics, such as those provided by CoinMarketCap. CoinMarketCap defines altcoin season as the period when 75% of the top 100 altcoins outperform Bitcoin over the past 90 days. By this measure, the index currently sits at 51, although it peaked at an impressive level of 87 on December 4th.
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However, many market participants are anticipating altcoin season, with many betting on the overperformance of several major altcoins against Bitcoin. According to a recent technical analysis by cryptocurrency analyst Captain Vibeke, altcoin season has officially begun.
“$BTC (Dominance) Rising Wedge + Retest Confirmed! ✅ The #Altseason has officially begun – get ready for the ride! 🚀📈”, He said.
Featured image created with Dall.E, chart from Tradingview.com