Is there still a chance for the altcoin market?
According to my observations of the market over the past few months, the altcoin market has actually begun. However, investors in the secondary market, due to their eagerness, have been using a lot of leverage and contracts as soon as they see the altcoin market start, especially during this significant rebound in altcoins. Although the increase has already been considerable, excessive leverage has led to large-scale liquidations, while Bitcoin, due to its relatively small contract positions, has managed to escape a disaster.
From another perspective, since the altcoin market was so strong last month, it is certain that similar market conditions will appear in the future. It is certain that as long as the contract market continues to be crazy, it will inevitably face another hit. Therefore, paying attention to open interest is a key indicator. Similarly, when the next altcoin market comes, as long as the open interest is not large, the market may continue for a longer time.