After a large dump of around 30–42% due to ETF expectations that didn’t match the hype in Q4 2025, then made worse by global tightening in Q1 2026, the market is now starting to look like it’s changing.
US payroll data was only +29K, with unemployment at 4.2%. The expectation for a Fed hike in October has also dropped significantly to around 17%.
On the other hand, there are signs of movement in several altcoins like SAND, ENJ, AI and others.
Regarding the 850K ETH in the exit queue, I don’t think it needs to be blown out of proportion. Exit staking doesn’t mean 850K ETH will instantly enter the market to be sold.
Instead, after pressure like this, I see the market starting to enter a more interesting phase.
If ETH/BTC starts to rise, ETFs see renewed inflows, the DXY and yields fall, while altcoins manage to hold onto their gains, then in my view this could be the beginning of a bigger rotation.
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