The recent Bitcoin price action has been marked by a correction from its all- 
time high of $108,135 achieved just a week ago. Although Bitcoin has largely 
held up above the $90,000 mark, the correction has seen the cryptocurrency 
falling to as low as $92,500 in the past 24 hours. This decline has not only 
shaken confidence in Bitcoin’s immediate trajectory but has also turned 
attention toward the altcoin market. Although the altcoin market has also 
mirrored this trend of Bitcoin&#8217;s price correction, many investors and analysts 
are expecting an altcoin rally very soon. VanEck weighed in on this 
expectation with a confident declaration on the social media platform X. 
According to the investment firm, the crypto industry is currently in an 
altcoin season that started on November 27. Altcoin Season Is Here 
Already—VanEck Bitcoin, the leading cryptocurrency, has struggled to maintain 
its price momentum above the $100,000 mark, raising questions about where the 
market might head next. While many Bitcoin proponents are expecting a renewed 
surge in 2025 with the incoming Trump administration in the US, other crypto 
analysts are turning to the altcoin market. Interestingly, analysts at VanEck 
suggest that the current crypto environment may favor altcoins against 
Bitcoin. Related Reading: XRP Price On Its Way To $10 In Only 3 Months If It 
Follows This Pattern Matthew Sigel, head of digital research at VanEck, 
elaborated on this phenomenon, explaining that Bitcoin’s dominance in terms of 
market cap, liquidity, and volume often lays the groundwork for altcoins to 
outperform. According to Sigel, as capital flows into the market, risk-on 
sentiment tends to boost nascent crypto applications, particularly those in 
decentralized finance, gaming, and NFTs, which in turn allows the altcoin 
market to outperform Bitcoin. VanEck’s outlook on the altcoin season also 
highlighted data from Artemis’s Altcoin Season Index, which measures how many 
of the top 50 altcoins outperform Bitcoin over a 90-day period. According to 
this index, which ranges from a value of 0 to 1, the altcoin season starts 
with a reading of 0.6. At the time of writing, the index is currently well 
above this level, having recently reached 0.8. This suggests that the crypto 
industry is currently in an altcoin season where profits taken from Bitcoin 
will start to flow into top altcoins. Diverging Views On Current Metrics 
Interestingly, Artemis’s Altcoin Season Index differs from more conventional 
metrics, such as those provided by CoinMarketCap. CoinMarketCap defines an 
altcoin season as a period when 75% of the top 100 altcoins outperform Bitcoin 
over the last 90 days. By this measure, the index currently sits at 51, though 
it peaked at an impressive 87 on December 4. Related Reading: Dogecoin Price 
Roadmap To $0.75 ATH: Why The Next Wave Is Bearish And Could Drop To $0.15 
Nonetheless, many market participants are anticipating an altcoin season, with 
many betting on the overperformance of many top altcoins against Bitcoin. 
According to a recent technical analysis by crypto analyst Captain Faibik, 
altcoin season has officially begun. “$BTC (Dominance) Rising Wedge Breakout + 
Retest confirmed! ✅ #Altseason has officially begun—get Ready for the ride! 
🚀📈,” he said. Featured image created with Dall.E, chart from Tradingview.com

Is Altcoin Season Here Already? VanEck Answers As Bitcoin Price Struggles Below $100,000

Blockchain security auditor Hacken is rolling out a new tool to automate 
security and compliance for web3 businesses as MiCA and DORA rules loom. 
Hacken, an international blockchain auditor with Ukrainian roots, is rolling 
out a new solution that allows…

Blockchain auditor Hacken launches AI-powered MiCA-compliance tool for crypto firms

CEO of Daiwa Securities believes Japan should allow for crypto exchange-traded 
funds to enter the local market. Daiwa is one of the many companies pushing 
for Japan to approve crypto ETFs. According to a Bloomberg report published on 
Dec. 24,…

Daiwa Securities CEO pushes for Japan crypto ETF approval amidst slumping China profits

Russia&#8217;s Gov&#8217;t has published a draft resolution on banning or providing 
restrictions on mining locally. The ban will take effect on Jan. 1, 2025, and 
run until Mar. 15, 2031.

Russia to impose regional controls over crypto mining starting Jan 2025

In yesterday&#8217;s preliminary proxy statement with the SEC, MicroStrategy 
introduced a plan to increase authorized shares from 330 million to 10.33 
billion as part of its $42 billion 21/21 Plan. It outlines proposals for a 
2025 Special Meeting of Stockholders, including efforts to raise $21 billion 
in equity and $21 billion through fixed-income instruments, potentially 
advancing […]
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Cryptocurrency price in CNY