Unlike the significant trading volume during the second test of Ethereum, the trading volume of altcoins generally decreased notably during their second test, indicating that the selling pressure of altcoins was largely exhausted during the sharp drop on December 9.

Additionally, the open interest of altcoins with contracts significantly decreased during the sharp drop on December 9, and the leverage is no longer as dangerous.

Therefore, during the rebound process of Ethereum, altcoins may experience a relatively large rebound.

However, because the altcoin market is heavily influenced by Ethereum, when Ethereum's rebound ends and it declines again, most altcoins are likely to drop as well.

Nevertheless, due to the considerable deleveraging of altcoins and the deep decline on December 9, the bottom of altcoins during the next drop may not be much lower than the bottom of the decline on December 9.