VanEck: Altcoin Quarterly Index grew 53% in the past 30 days, indicating further gains for Bitcoin

Odaily reported that the VanEck Altcoin Season Index has seen a significant increase recently, rising 53% in the past 30 days to 63 points, which may signal an impending rise in Bitcoin (BTC). The index tracks the performance of the top 50 cryptocurrencies by market cap relative to Bitcoin over the past 90 days. When 75% of these tokens (excluding stablecoins and asset-backed cryptocurrencies) outperform BTC, it is considered an "Altcoin Season." The company's head of digital asset research, Matthew Sigel, emphasized that after this index exceeds 60 points, Bitcoin typically rises by an average of 10% within a month. Within three months, the average return triples, and within six months, the average return usually sees a significant increase of 73%. Sigel explained that Bitcoin often drives up Altcoin prices, creating a feedback loop that further boosts BTC until the cryptocurrency reaches the peak of its cycle. According to the index, Hedera (HBAR) is the best-performing Altcoin among the top 50 over the past 90 days, with a gain of 450%. Ethena (ENA) is second, with a return of 342%, and Stellar (XLM) has risen nearly 326% during the same period. (CryptoSlate)