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’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.