Citigroup analysts stated in a report on Monday that "given that Ethereum is the only major cryptocurrency (other than Bitcoin) approved as the basis for spot ETFs, it may be a rotation target." Other cryptocurrencies have performed even better, and their share of the overall cryptocurrency market is growing. Citibank also said that respondents to a recent survey believed that altcoins would perform particularly well in 2025.

Analysts said, "The performance of other cryptocurrencies and altcoins is even more significant, indicating that some market participants expect a 'altcoin season' in 2025 after a strong year for Bitcoin." Experts say that the different trends of Bitcoin and other cryptocurrencies are due to differences in the fundamental factors that affect these two markets.