Bitcoin Premium Index Turns Negative As Traders Shift To Altcoins

According to BlockBeats, on September 25, the Bitcoin premium index from analysis firm CryptoQuant in South Korea turned negative, dropping to -0.55, marking the largest discount since October 2023. Additionally, data from South Korean trading platforms indicate a shift towards high-beta altcoins, which exhibit greater volatility than the market average. Markus Thielen, founder of 10x Research, also noted in a recent report that swift-moving traders are seizing the opportunity to buy their preferred altcoins in large quantities, anticipating a strong rally in the fourth quarter. As Bitcoin surpasses $60,000 and aims to break through $65,000, savvy traders have been accumulating undervalued altcoins such as TAO, ENA, SEI, APT, SUI, NEAR, and GRT.