🧵Thread: State of the crypto market now 🪙

⏳ Slow week, slow markets

There have been no significant price moves or news over the past week....at least until today when the market wants to contradict me 😅

Major currencies like#Bitcoinhave stagnated. It's that quiet time at the end of summer, but traders aren't relaxing... 😬

😞 General disappointment

The mood of crypto traders is close to depression. Many were hoping for an overall increase, but only#Bitcoinand#Solanahad a significant advance. 🚤

🤔 Unfulfilled expectations#Ethereumand other cryptocurrencies have had a disappointing year. Memecoins and airdrop hunters have provided poor returns compared to previous altcoin rallies. 🪙➡️📉

🚨 Projects under the magnifying glass

Enthusiasm for restaking, Layer 2 and the new Layer 1 has waned rapidly. News of Eigenlayer and post-launch price drops added to the cynicism in the community. ⚠️

📉 Sentiment and prices

Negative sentiment in crypto tends to be reflected in weak prices. However,#Bitcoinis holding up around 60k, even 62k today. Big investors continue to allocate funds through ETFs and we have to be blind not to see what will come next 💰

🌅 Hopes

All we see now is just the calm before the storm.

I think the ones that were supposed to get out of the market have kind of already gotten out, and now the market is really ready to show its true value.

Let's not forget: the night is darkest before dawn. 🚀🚀🚀