Matrixport, a leading cryptocurrency analytics firm, has expressed a cautious outlook for Ethereum and other altcoins in its latest daily market analysis. The firm noted that the recent rally in Ethereum’s price appears to be temporary and has limited potential for a sustained recovery. According to Matrixport, Bitcoin continues to dominate the cryptocurrency market, as reflected by its rising dominance rate. This trend highlights Bitcoin’s ability to maintain its position as a primary driver of market sentiment and activity. In contrast, Ethereum’s dominance has been steadily decreasing, a trend that began with the launch of ETH ETFs in early summer 2024. Despite billions of dollars in inflows, these funds have failed to reverse Ethereum’s downward trend. Related News: Veteran Analyst il Capo Talks Bitcoin, Ethereum, XRP and Memecoins After the Market Drop: Is an Altcoin Bull Close? According to analysts, the lack of positive catalysts for ETH’s price recovery has led to increased caution among investors. Matrixport noted that the current market environment offers little support for a sustained resurgence in Ethereum’s value. The analysis suggested that investors may need to take a patient approach and foresaw potential growth opportunities for ETH in 2025. If market conditions improve, Ethereum could regain investor confidence and reverse its current decline. *This is not investment advice. Continue Reading: What’s in the Future of Ethereum? Analysts Explain Whether There’s Light at the End of the Tunnel
