In an intriguing analysis, cryptocurrency expert Chetan outlines a significant shift in the total cryptocurrency marketcap, which he suggests has been in a corrective phase since December 2024. This phase may precede a substantial bull run, with projections indicating the marketcap could soar between $10 trillion and $24 trillion.
Chetan identifies two primary correction patterns currently influencing the crypto market structure. Both scenarios are based on a completed five-wave Elliott pattern that peaked in December 2024, mirroring similar movements observed in the altcoin marketcap during that timeframe. The first scenario, known as a running flat correction, anticipates a completion near the ascending channel”s lower boundary, approximately $2.62 trillion. This figure aligns with established monthly support levels that have previously signified demand zones for the market.
The analyst emphasizes that markets often disguise their movements before confirming genuine trend reversals. This theory is supported by Bitcoin”s recent performance, where it reached $87,583.98, creating confusion among traders regarding market direction. Chetan interprets this price action as a classic B-wave fake-out pump within the ongoing corrective structure.
Chetan also presents an alternative scenario involving an expanded flat correction, which suggests more downside potential before the market resumes its bullish trajectory. According to this framework, Wave A may have concluded in April 2025, with Wave B finishing in October 2025, leading into the final C-wave phase. This expanded flat pattern hints at a deeper correction toward a range of $2.2 trillion to $2.3 trillion before the anticipated Wave 3 rally begins.
The target area corresponds with a long-term trendline that has historically provided structural support across various market cycles. Historical trends suggest that such trendlines often attract significant buying interest from both institutional and retail investors.
The correlation between the patterns observed in the altcoin marketcap and the total cryptocurrency marketcap strengthens Chetan”s technical analysis. Both sectors have completed analogous five-wave structures and are currently undergoing three-wave ABC corrections concurrently, indicating synchronized market behavior instead of isolated movements among different crypto sectors.
Market psychology plays a pivotal role in Chetan”s analysis. He notes that markets typically move against prevailing sentiment, creating optimal entry points when pessimism peaks. Current trader positioning indicates an expectation of continued upward movements, potentially setting the stage for the projected corrections.
Despite the near-term correction expectations, the long-term bullish outlook remains robust. The Wave 3 projections, estimated between $10 trillion and $24 trillion, signal substantial growth from current market levels. These projections assume successful navigation through the intermediate correction phase and sustained capital inflows into the cryptocurrency ecosystem. The technical setup reflects historical patterns where deep corrections have preceded explosive rallies in previous cycles.
