A recent report by Doctor Profit predicts significant growth in the cryptocurrency market, particularly for altcoins, expecting a market cap of $1.4 trillion by the first quarter of 2025.
Whale Accumulation in the Crypto World
The report notes that large investors have accumulated about $1.6 billion worth of Bitcoin in the last 3 to 5 weeks. Meanwhile, retail traders, feeling uneasy, are holding onto USDT, thereby missing out on the current market momentum.
Ethereum's Rising Potential
The report highlights that Ethereum might be undervalued, referencing the MVRV chart. Institutional interest in ETH has surged, especially after November 5, with ETF inflows for ETH surpassing those for Bitcoin.
Altcoin Season
BTC dominance has decreased from 60.55% on November 5 to the current 56.90%. Decreases in Bitcoin dominance have often preceded significant corrections. This scenario suggests that altcoins are entering a strong growth phase. There are talks about BlackRock and JPMorgan potentially launching XRP ETFs, supporting the altcoin season narrative.
Altcoins are poised for explosive growth as whales accumulate holdings and institutional interest rises. With Bitcoin dominance declining, the market is set for noteworthy shifts that demand close observation in the near future.
