The collapse of altcoins is affected by factors such as token unlocking, and cashing out funds drags down the market.
Texas Research believes that during this period, token unlocking and unfavorable liquidity indicators are the main causes of the collapse of altcoins. Especially last week, large amounts of cryptocurrencies such as APT, IMX, STRK, ARB, APP, unicash, etc., with a total amount of up to US$480 million, were unlocked. Their early investors and venture investors seem to be facing cashing out pressure, and these funds are dragging down the entire cryptocurrency market, including Bitcoin.
In addition, Bitcoin miners have also begun to sell their Bitcoin inventory. If miners continue to sell Bitcoin in large quantities, the market may further crash. Of course, we have also mentioned that when miners "surrender", it may be a good time to pick up at a low price. Bitcoin is still in a negative state.
