Ethereum

DeFi

Bitcoin

Coin

<ul class="news-points">
 <li>The market lacks a driving narrative, impacting altcoins unless a major catalyst, like the ETH ETF, emerges.</li>
 <li>Despite bearish sentiment, whales are accumulating altcoins down 30%-50%, signaling long-term confidence.</li>
 <li>Utility-based tokens might be a strategic buy now, anticipating a Bitcoin surge past $100K for a broader market rally.</li>
</ul>
The much-anticipated “altseason” has yet to arrive, with the total market capitalization of altcoins falling back to December 2023 levels.
Despite the currently bearish sentiment, no major narratives are propelling the market, unlike the ICO boom of 2017, DeFi surge in 2020, or NFT craze in 2023. The absence of such trends suggests altcoins may continue to underperform against Bitcoin unless a catalyst, such as the approval of <a href="https://coinedition.com/ethereum-etfs-proshares-latest-to-seek-sec-approval/?utm_source=telegram_channel&amp;utm_medium=referral" rel="noopener noreferrer nofollow">spot Ethereum ETFs</a> emerge.
As noted by top crypto analyst Ash Crypto, the current market conditions could present a strategic buying opportunity. Altcoins have declined 30% to 50% from recent highs, dampening retail investor interest.
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 The Mega Altseason Has Not Started Yet &nbsp; Total Altcoin MCap has retraced back to December 2023 levels &nbsp; There are still no big narratives, like ICOs in 2017, DeFi in 2020,…
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The post <a href="https://coinedition.com/altcoins-bleed-against-bitcoin-is-the-market-waiting-for-the-eth-etf/" rel="noopener noreferrer nofollow">Altcoins Bleed Against Bitcoin: Is the Market Waiting for the ETH ETF?</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Altcoins Bleed Against Bitcoin: Is the Market Waiting for the ETH ETF?

Coin Edition

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