Altcoins have taken a bigger hit than Bitcoin in the recent market pullback, with Ethereum, XRP, and BNB all slipping into the red.
However, analysts suggest this could be the final phase of correction before a major rally kicks off in January 2025, potentially pushing the altcoin market cap toward $2.75 trillion.
Renowned analyst Michaël van de Poppe believes Bitcoin and altcoins are nearing a bullish breakout, pointing to $90,000 as a prime Bitcoin entry. Bitcoin briefly dipped to around $91,300, then recovered above $94,000. Meanwhile, the Altcoin Season Index plummeted from 88 to 49 before showing some recovery, fueling hopes for a robust altseason next year.
Ethereum has underperformed Bitcoin this year, yet experts expect ETH to rebound in early 2025—possibly hitting a brief low under $3,000 first—and then making a strong run toward new highs. If the ETH/BTC ratio follows its previous breakout pattern, Ethereum’s value could surge between $10,600 and $32,000, depending on Bitcoin’s price trajectory.
A broader altseason may also bring gains for tokens like XRP, BNB, Solana, and Dogecoin. Analyst DeFiTracer cites a “golden cross” signal that could propel the total altcoin market cap to $2.75 trillion. If these predictions hold, January 2025 might mark the start of a major altcoin rally.
Binance’s latest decision to remove several cryptocurrencies from its platform has sparked speculation about potential market turbulence.
A crypto analyst, Ali Martinez, has pointed out that XRP must maintain its position above a critical price threshold to prevent a sharp decline.
The long-running lawsuit between Ripple and the SEC is nearing its conclusion, as the SEC has withdrawn its objection, according to Ripple CEO Brad Garlinghouse.
Coinbase has emerged as the leading node operator on the Ethereum blockchain, according to a report from the company.