According to TechFlow, Cryptoquant analyst Crypto Dan said that investors' investment sentiment towards Bitcoin and other altcoins is weakening, especially after Bitcoin failed to break through $72,000.
The number of active Bitcoin addresses has dropped significantly after peaking in March, indicating that market participants’ investment sentiment is weakening.
Although it is difficult to determine the exact time, the correction period usually ends when the psychology of market participants drops significantly. Ultimately, if Bitcoin takes the lead in determining the main direction, other altcoins will move accordingly in the second half of 2024.
