Citibank: The "Counterfeit Season" will arrive in 2025

According to a report by Citigroup analysts on Monday, given that Ethereum is the only major cryptocurrency (besides Bitcoin) approved as the basis for a spot ETF, it could be a rotation target. The performance of other cryptocurrencies and altcoins is even more significant, suggesting that some market participants expect a "altcoin season" in 2025 after a strong year for Bitcoin.

Citigroup analysts said new policy support would help consolidate the legitimacy of altcoins in the market and could push up prices. Bitcoin has been classified as a commodity and already has traditional financial trading tools such as spot ETFs and futures. In contrast, the definition of other crypto assets is less certain, with more limited investment options.

The analyst added that compared to Bitcoin, further policy support will provide tremendous momentum for altcoins.