The post Altcoin season incoming? VanEck responds as Bitcoin stays under $100K appeared on BitcoinEthereumNews.com.

As Bitcoin stays below $100,000, attention is shifting to altcoins, with many expecting an altseason rally soon. VanEck analysts say “altcoin season” has started.  Bitcoin, the leading cryptocurrency, has struggled to surpass its all-time high of $108,135, remaining below the $100,000 mark, raising uncertainty about its next move. VanEck analysts suggest that the current market conditions favor altcoins over Bitcoin. Although altcoins also dropped along with Bitcoin, many investors and analysts are hopeful that an altcoin rally will soon occur. VanEck has even stated that the altcoin season started on November 27. Bitcoin has remained below the $100,000 mark, holding around $90,000. Some predict it may rise in 2025 with expected crypto-friendly policies under the Trump administration, while others believe the current market favors altcoins. VanEck: Altcoin season has arrived VanEck analyst Matthew Sigel, head of digital research, explained that Bitcoin’s dominance in market size, liquidity, and volume often allows altcoins to do better. As more money flows into the market, investors are more willing to take risks, directing capital into emerging sectors like decentralized finance (DeFi), gaming, and NFTs, which helps altcoins outperform Bitcoin. Sigel says altcoins are ready to grow as more investors explore new blockchain applications. Data from Artemis’s Altcoin Season Index shows that altcoins are performing well. The index tracks how the top 50 altcoins perform compared to Bitcoin over a 90-day period. The index ranges from 0 to 1, and an index reading of 0.6 signals the start of the altcoin season. The current score of 0.8 shows strong altcoin performance, suggesting that profits from Bitcoin are moving into top altcoins. CoinMarketCap uses a different method to calculate the altcoin season index. It defines it as when 75% of the top 100 altcoins perform better than Bitcoin over the last 90 days. Right now, the…

---

Filed under: News - @ December 25, 2024 6:16 pm