$BTC Altcoins are falling even harder than BTC, which is typical when Bitcoin enters a correction. ETH dropped to around 5–6%, XRP to about 5–6%, and SOL around 3–5%; several smaller-cap coins are losing even more.
The main issue is that BTC is dragging the rest of the market down: ETF outflows, negative macro, and liquidations are causing investors to reduce risk. Even ETH ETFs saw about $160.9M in outflows in the last session, while SOL also had outflows.
In short: right now it doesn’t seem like altcoins are falling because each project has its own problem. It’s a broad market selloff. As long as BTC doesn’t find stability, altcoins will likely keep experiencing more volatility, and many may drop by a higher percentage than BTC.
My take: first, we need to see whether BTC recovers 81.5–83K. If it does, the altcoins could bounce back very strongly; if BTC loses 80K, I’d expect another round of pressure on the alts. $BR $BTW
The main issue is that BTC is dragging the rest of the market down: ETF outflows, negative macro, and liquidations are causing investors to reduce risk. Even ETH ETFs saw about $160.9M in outflows in the last session, while SOL also had outflows.
In short: right now it doesn’t seem like altcoins are falling because each project has its own problem. It’s a broad market selloff. As long as BTC doesn’t find stability, altcoins will likely keep experiencing more volatility, and many may drop by a higher percentage than BTC.
My take: first, we need to see whether BTC recovers 81.5–83K. If it does, the altcoins could bounce back very strongly; if BTC loses 80K, I’d expect another round of pressure on the alts. $BR $BTW