Crypto analyst and trader Michaël van de Poppe believes that the altcoin market correction could end in just a few weeks in 2025.
In a new video update, Van de Poppe told his 169,000 YouTube subscribers that he expects TOTAL3 charts to soon witness a bullish reversal in the weekly chart.
The TOTAL3 chart tracks the market capitalization of all cryptocurrency assets except Bitcoin (BTC), Ethereum (ETH), and stablecoins.
“If you look at the altcoin market in the sense of looking at TOTAL3, which is altcoin market capitalization at USDT valuation for example, at this point we have seen a significant big run that has surpassed all-time highs. high. And now we are experiencing a very common correction in the market, and it is very likely that this correction is close to coming to an end. “This correction will probably continue for a week or two starting in January and then pick up again.”
Next, he said Ethereum (ETH/BTC) against Bitcoin is starting to show signs of entering an upward trend, while other alternatives such as scaling solution Optimism (OP) are experiencing investor accumulation as trading volumes increase. .
“If you look at the valuation of altcoins, most things like the optimism about Bitcoin for example, there is a lot of volume flowing into real pairs right now, showing that there is interest at this point. , showing that accumulation is occurring. And since Ethereum against Bitcoin is already rising and the rest of the Ethereum ecosystem is currently consolidating or modifying itself a bit, there is a gap between the two, which means the entire ETH ecosystem is still significantly undervalued.”
OP/BTC is trading at 0.00002051 BTC ($2.01) at the time of writing, up 5.83% over the last 24 hours. Meanwhile, ETH/BTC is trading at 0.03675 BTC ($3,606) at the time of writing, up 3.23% over the last 24 hours.
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