Why #BLEEDING ALTs đ
The reasons behind the recent altcoin dumping can be summarized as follows:
Lack of #Narratives : Previously, altcoins pumped due to specific narratives like memecoins or RWA coins supported by BlackRock. Currently, there's no compelling new narrative driving liquidity into altcoins.
#ETHETFS Trading Delay: Although an $ETH ETF was approved a month ago, trading hasn't started yet. This delay has shifted market sentiment away from altcoins, as their rally often correlates with Ethereum's performance.
Excessive #Greedy : There's been a surge in speculative behavior, with celebrities launching memecoins and retail investors flaunting their gains. This level of greed historically precedes market corrections.
The recovery of #Altcoins" is now heavily reliant on Ethereum. If the ETH ETF successfully attracts significant inflows similar to $BTC , it could trigger the next altseason. Institutional interest in other altcoins could then create new narratives for recovery.
In conclusion, while many alts are currently oversold, historically, buying during such fear-driven dips has been profitable once new positive narratives and catalysts emerge in the market.
Thanks for Reading.