According to Michaël van de Poppe's recent announcement on January 12, 2025, the altcoin bull market has come to an end. This statement comes as altcoin prices have shown a significant decline over the past few weeks. Specifically, Ethereum (ETH), a major player in the altcoin market, has dropped from a peak of $4,200 on December 1, 2024, to $3,500 as of January 12, 2025. Binance Coin (BNB) also experienced a downturn, falling from $600 to $480 during the same period. These movements indicate a broader market correction that traders need to be aware of, especially those heavily invested in altcoins.

The implications of this downturn are far-reaching. Traders who have been riding the altcoin wave may need to reassess their portfolios and consider reallocating assets. The decline in altcoin prices is accompanied by a decrease in trading volumes. For instance, Ethereum's 24-hour trading volume fell from $20 billion to $14 billion over the past month, according to CoinMarketCap data. This reduction in volume suggests waning investor interest, which could further impact prices. Market participants should closely monitor these trends and adjust their trading strategies accordingly, potentially shifting focus back to more stable assets like Bitcoin or diversifying into other asset classes.

Technical indicators also reflect the bearish sentiment in the altcoin market. The Relative Strength Index (RSI) for Ethereum has been trending below the 50 mark since mid-December 2024, indicating a bearish momentum. Additionally, the Moving Average Convergence Divergence (MACD) for major altcoins like Litecoin (LTC) and Cardano (ADA) shows bearish crossovers, further supporting the notion of a market downturn. On-chain metrics, such as the decreasing number of active addresses and declining transaction volumes, corroborate the observed market trends. According to Glassnode, the number of active Ethereum addresses fell by 15% over the last month, underscoring the reduced network activity. These technical signals, combined with the observed price and volume data, suggest that traders should exercise caution and potentially look for entry points in other markets or wait for a confirmed reversal before increasing exposure to altcoins.