Whether the altcoin market has entered a deep bear market has become the focus of recent market attention.

Since June 7, with the slight correction of Bitcoin, the altcoin market has suffered a heavy blow, with a drop of an astonishing 20%. Although there is a rebound trend, most altcoins are still falling.

Surprisingly, last night, Bitcoin fell by only 1.4% in 15 minutes, while the altcoin market generally fell by 6% to 11%, and many currencies hit a new low this year. This phenomenon reflects that in the context of Bitcoin being at a historical high, altcoins are generally at or close to historical lows. If Bitcoin continues to pull back in the future, the prospects of the altcoin market will be even more worrying.

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