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Data shows that all altcoin indices have outperformed Bitcoin over the past month, with small caps emerging as market leaders.

The last 30 days were green for Bitcoin and Altcoins

According to the latest weekly report from Arcane Research, all indices are posting positive returns in the range of 27-31% over the past month. The “altcoins indexhere refer to groups of alts divided according to their market capitalizations. The advantage of creating crypto indexes is that it is easy to assess the performance of different market segments against each other.

There are three main altcoin indices: “small caps”, “mid caps” and “large caps”. As can already be seen from their names, each of them covers rooms of different sizes.

Now, here is a chart that shows the performance of these three indices against each other, as well as against Bitcoin, over the past month:

Altcoin versus Bitcoin

Looks like all these indexes have seen sharp rise in recent days | Source: Arcane Research's Ahead of the Curve - January 17

As the chart above shows, altcoins and bitcoin saw very little price action in the last third of December as their returns were close to 0%. This trend started to change about a few weeks ago, however, as some bullish price action finally returned to the market after a full year of mostly bearish movement in 2022.

In the ensuing period, the overall market experienced a significant improvement, as all market segments are currently making significant profits. The winner of the past 30 days has been small caps, which are currently 31% in the green.

One interesting thing to note is that small caps suffered the most at the end of 2022, as they capped the year being significantly more underwater than other indices (as can be seen in the chart). This allows them to turn around and outperform the rest of the market all the more impressively.

Large cap and mid cap investors are currently making profits of 28% each, which is not far off from the performance of small caps. Bitcoin has also seen positive returns very close to 27% over the past month, but it’s clear that altcoins have managed to outperform the trailblazing crypto over this period.

As for Ethereum’s performance over this same period, the asset with the second-largest market cap in the industry has seen gains of over 32% in the past month, meaning that on its own it has done better. performed than the indices.

The report notes that the main reason for the outperformance of alts is because these indices are seeing a deeper decline than Bitcoin in the post-market period. FTX debacle back in November of last year.

BTC price

As of this writing, Bitcoin is trading around $21,200, up 21% in the past week.

Bitcoin Price Chart

The value of the crypto seems to have been consolidating in the last few days | Source: BTCUSD on TradingView

Featured image of Kanchanara from Unsplash.com, charts from TradingView.com, Arcane Research



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