đNow happening: Bitcoin acquisition reaches 58% for the first time since 2021.
It will be really difficult for altcoins
Bitcoin acquisition is on the rise and is approaching 60% for the first time in 4 years.
If it reaches 70%, it will be disastrous for altcoins and may fall by 30% again and achieve new lows.
This indicates that investor confidence in altcoins is beginning to decrease.
Currently, 60% of crypto liquidity has entered Bitcoin, 20% Ethereum, and the remaining 20% ââhas entered altcoins, and this is really negative.
In order for there to be a strong rise in altcoins, the acquisition must fall to 40%.
This is currently unlikely.
In order for the acquisition to fall to 40%, it needs a few more months.
Logically, I rule out a bullrun.
Even in October, we may witness a temporary rise, between 200% and 300% in some currencies, then another correction, and so on. The same scenario. The market is boring and will get worse. Even with the interest rate cut, I do not expect a strong rise.
Altcoins alone need $3 trillion to achieve a strong rise, reaching 600% to 1000. This is unlikely. With every rise and with the entry of major financial institutions, they make a big short and the market falls.
$2 trillion has evaporated from the crypto market since the beginning of 2021.
