- Altcoin market cap poised for massive growth if it breaks past ATH levels.
- Bitcoin, Ethereum, and XRP gain momentum ahead of key US economic data release.
- Ethereum’s largest exchange outflow in nearly two years signals potential price rise.
The total altcoin market cap is still moving sideways near its previous all-time high. According to analysis by Mags, once it breaks past its ATH, altcoins are expected to see massive growth.
Meanwhile, the crypto market is witnessing a surge in investor optimism as Bitcoin, Ethereum, and XRP post gains ahead of the US CPI and PPI data release scheduled for Wednesday and Thursday.
#Altcoins
— Mags (@thescalpingpro) February 11, 2025
The total altcoin market cap is still moving sideways near its previous all-time high.
Nothing has changed, once it breaks past its ATH, altcoins are going to explode. pic.twitter.com/LWEqDmEg8b
Bitcoin Gains Momentum, Nears $98K
Bitcoin’s price has seen an upward trajectory in the past 24 hours, reaching a high of $98,000 before slightly retracing. Currently, BTC trades at $97,726.38, reflecting a 0.37% increase in the last day, although it remains down by 1.41% over the past week. Its market capitalization stands at $1.93 trillion, with a trading volume of nearly $29.8 billion.
Ethereum Sees Major Exchange Outflows
Ethereum also maintained its bullish movement, currently priced at $2,685.16, with a 1.56% rise in the last 24 hours. However, ETH is still down by 2.84% over the past seven days. Santiment data reveals that Ethereum recorded its largest exchange outflow in nearly two years, with 224,410 ETH withdrawn between February 8 and 9. Investors anticipate this shift will lead to an upward price movement.
😯 There was a historic milestone of ~224,410 ETH moving away from exchanges in the 24 hours between February 8th and 9th. This was the most amount of net coins moving off of known exchange wallets in a single day in 23 months.
— Santiment (@santimentfeed) February 11, 2025
Though more of a long-term metric, this is a… pic.twitter.com/G2e2AausPh
XRP and Solana Show Mixed Trends
XRP witnessed a 2.43% increase in the past 24 hours, trading at $2.47, though it remains 4.72% lower for the week. Market optimism continues to grow regarding the possibility of an XRP ETF, with Bloomberg analysts suggesting its approval may be imminent.
On the other hand, Solana experienced a minor decline of 0.77%, now priced at $201.79. The asset has dropped 3.13% over the past week, despite rising expectations of an SOL ETF. While some altcoins are riding the bullish wave, SOL has yet to see significant momentum.
