Bitcoin has been trading in a sideways range in recent weeks, and traders are looking for new catalysts to push it higher. Analysts and commentators say altcoins (any cryptocurrency that is not Bitcoin) are poised to rebound this year as Trump promises to reduce regulation of digital assets. "Given that Ethereum is the only major cryptocurrency (besides Bitcoin) approved as a basis for a spot ETF, it could be a rotation target," Citi analysts said in a report on Monday. Other cryptocurrencies have performed even better, and their share of the overall cryptocurrency market capitalization has grown.
Citi added that respondents to a recent survey believe that altcoins will perform particularly well in 2025. "Other cryptocurrencies and altcoins have performed even more meaningfully, suggesting that some market participants expect an 'alt season' in 2025 after a strong year for Bitcoin," analysts said. (Businessinsider)