This round of bull market has a weak relationship with altcoins. The main reasons are as follows:

What do you think? Will altcoins take off again in this bull market!

1. ETF affects the flow of funds: After the approval of Bitcoin ETF, the flow of funds in the market has changed. Incremental funds in the traditional market prefer to invest directly in Bitcoin through ETFs, rather than through stablecoins to Bitcoin and Ethereum, and finally to altcoins. This change has led to a lack of new liquidity injection in the altcoin market.

2. Selling pressure caused by the unlocking of VC tokens: The continuous unlocking of venture capital-backed tokens has brought continuous selling pressure to the market. Although the prices of some altcoins have fallen, the increase in circulation has led to a record high in the circulating market value, forming a situation of oversupply and suppressing the performance of altcoins.

3. New projects absorb liquidity: Highly anticipated new projects such as http://io.net, ZKsync, LayerZero, and Blast are preparing to go online. The fully diluted valuations of these projects generally reach billions of dollars, further absorbing the limited liquidity in the market and exacerbating the tight capital situation in the altcoin market.

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