According to ChainCatcher, Coinstash co-founder Mena Theodorou said in a report this week that Bitcoin's record "has inspired traders' hopes for a continuation of the altcoin season and a potential Christmas rebound." According to CoinGecko data, cryptocurrencies have risen around Christmas in eight of the past 10 years.

In addition, Nexo analyst Liya Kalchev expects Ethereum's price to reach $5,000 by early 2025.