Cryptocurrency analyst and trader Michaël van de Poppe believes the altcoin market correction may come to an end just weeks into 2025.
In a new video update, Van de Poppe tells He told his 169,000 YouTube Subscribers that the TOTAL3 chart will soon see a positive reversal in the weekly chart.
This TOTAL3 graph tracks the total market capitalization for all crypto-assets, excluding Bitcoin.BTCEthereumETHStablecoins and cryptocurrencies.
“When you look at the altcoin markets in the sense that you’re looking at the TOTAL3, for instance, which is the altcoin market cap in USDT valuation, then at this point we’ve seen a substantial big run crossing the all-time high. And now we’re just having a very general correction taking place on the markets, with a very likelihood of being close toward the end of this correction. Maybe beginning January we continue to have one or two weeks of this correction, then we rotate back up.”
He says next that Ethereum versus Bitcoin (ETH/BTC), is beginning to indicate an upward trend, while alts such as scaling solution Optimism(OPInvestors are accumulating based on the increasing volume of trading.
“If we look at the altcoins’ valuations, and if we start to look at most of them, for instance, Optimism against Bitcoin, it is currently seeing a lot of volume coming in into the actual pairs showing that there is interest at this point, showing that there is the accumulation taking place. And as Ethereum against Bitcoin is already crawling up, and the rest of the Ethereum ecosystem is currently consolidating or correcting by a little bit, there’s a gap between the two, and that says that the entire ETH ecosystem is still substantially undervalued.”
OP/BTC was trading at 0.00002051 BTC, or $2.01 as of the writing. That’s an increase by 5.83% within 24 hours. ETH/BTC trades for 0.03675 BTC (about $3,606) as of the time of this writing. This is an increase by 3.23% from 24 hours ago.
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