The fall in the interest of investors coincided with the correction of the prices of most altcoins. While Bitcoin in early August briefly exceeded $ 124,000, many altcoins, memo-coins and Defi projects showed a decrease, which increased the disappointment of investors.
The absence of clear leaders among altcoins, such as ether or Soolana, as well as weak economic support reduced the likelihood of a speedy rally, which was reflected in the posts on X.
“The cryptocurrency market is experiencing a decline, bitcoin is below $ 114,000, and the long -awaited altcoin season has not come. Do you still continue to hold positions or invest in altcoins to reduce risks? ” wrote Representative of the Coinw exchange.
Bitcoin dominance, reached Maximum 65% in June, still continues to limit the overcoming of capital to altcoins, Introducing their growth.
For August 19–20, the three largest players in the ether -etf market, BlackRock, Fidelity and Grayscale funds, Out Of the assets in ETH in the amount of about $ 422.2 million. If Bitcoin continues to dominate, investors focused on altcoins will have to reconsider the strategy, focusing on long-term projects with a stable technological base, such as smart contracts or cross-bridges, ARKHAM analysts believe.
Earlier, the specialists of the QCP Capital trading company vanned that the onset of the altcoin season is postponed indefinitely, since the traders are increasingly choosing the important level of support of $ 112,000 bitcoin.
Source: Bits
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