Ethereum (ETH), XRP and other altcoins are gaining traction as Bitcoin consolidates, sparking optimism in the crypto market. Michaël van de Poppe, a prominent crypto analyst, suggested that Ethereum could outperform Bitcoin in the coming weeks. “Wouldn’t be surprised if ETH/BTC breaks through 0.04 in January,” van de Poppe stated on X.
Ethereum & Altcoin Rally Soon?
They added, “Inflow in ETH, outflow in BTC. Consolidation in Bitcoin –> #Altcoin run in Ethereum ecosystem.” Van de Poppe further highlighted the shifting market dynamics, noting, “The bear market has ended for altcoins. Be positioned in them and enjoy the ride.”
He likened the current market situation to last December, when Bitcoin’s upward momentum gave way to a parabolic rally in altcoins. “Bitcoin has seen most of its upwards run, for now, and therefore altcoins get some time to play around in a parabolic manner. That will last until Bitcoin runs,” he explained.
Wouldn’t be surprised if $ETH / $BTC breaks through 0.04 in January.
Inflow in $ETH, outflow in $BTC.
Consolidation in Bitcoin –> #Altcoin run in Ethereum ecosystem.
— Michaël van de Poppe (@CryptoMichNL) December 24, 2024
Santiment, a crypto analytics platform, reported a significant breakout in altcoins despite Bitcoin’s brief decline. “Altcoins have seen a huge breakout Tuesday, even with Bitcoin dropping as low as $92.4K before a mild recovery,” the firm shared on X. Santiment also emphasized Bitcoin’s leading role in the ongoing bull cycle, stating, “BTC has mainly led the way throughout this bull cycle.”
Ethereum, XRP, and several other altcoins have shown notable strength, with market participants closely monitoring Ether’s potential to outpace Bitcoin. The evolving market sentiment suggests a shift in investor focus toward altcoins as Bitcoin stabilizes.
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