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<p>The post <a href="https://coinpedia.org/news/altcoin-season-in-jeopardy-crypto-market-plummets-as-ethereum-solana-suffer/">Altcoin Season in Trouble? Ethereum &amp; Solana Suffer as Crypto Market Crashes</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>The altcoin industry, led by Ethereum (<a href="https://markets.coinpedia.org/ethereum/" target="_blank" rel="noreferrer noopener">ETH</a>) and Solana (<a href="https://markets.coinpedia.org/solana/" target="_blank" rel="noreferrer noopener">SOL</a>), has significantly impacted the recent market crash fueled by major global stock indexes. Since early March this year, the altcoin’s market cap has slipped from around $1.27 trillion to around $866 billion on Monday.&nbsp;</p> 
<p>What caused this harsh downturn? </p> 
<p>The excitement over the approval of <a href="https://coinpedia.org/news/ethereum-etf-approved-what-this-means-for-bitcoin-and-altcoins/">spot Ethereum ETFs </a>in the US has been overshadowed by significant cash outflows. Grayscale’s ETHE has seen nearly $3 billion in net outflows since last month’s approval. </p> 
<p>Additionally, US spot Ether ETFs have experienced $420 million in net outflows, with their current assets under management totaling around $7.35 billion.</p> 
<h2 class="wp-block-heading" id="h-seasonal-trends-more-pain-ahead-for-altcoins">Seasonal Trends: More Pain Ahead for Altcoins? </h2> 
<p>Historical data shows that August and September are often weak months for the crypto industry, especially following the Bitcoin halving. Recent sell-offs by Jump Trading, which have liquidated many Ethereum holdings, have caused significant ripples in the altcoin market. Jump Trading currently holds over $60 million worth of Ether, which could be sold off soon.</p> 
<p><strong>Market Sentiment</strong></p> 
<p>The recent Bitcoin sell-off by the US government, which transferred 10,000 BTC to Coinbase for sale, has increased fears of further market declines. The Ethereum Fear and Greed Index has dropped to 34%, indicating growing investor anxiety.</p> 
<h2 class="wp-block-heading" id="h-expert-advice-here-s-what-investors-can-do">Expert Advice: Here’s What Investors Can Do </h2> 
<p>Crypto analyst Michaël van de Poppe suggests that now is a good time to Dollar-Cost-Average (DCA) into the altcoin market, preparing for the next bullish phase. Van de Poppe believes that many altcoins are nearing a bottom against Bitcoin and could soon see a major rebound.</p> 
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 <img decoding="async" src="https://lh7-rt.googleusercontent.com/docsz/AD_4nXdYgodBF2p0rR_hYBnueu13O2ESPuCHoLEELIHi5jrsjcI8kO8XoHewGVk6U4e40IlDJE7LkziM_P4RUxHQM3w8dKJfON15sfspNThTw6QcQda0byL4M9k-Nsky1DI6gkSlVNiNxm3G3K-iLXaBB-2b1VLw?key=hGWx63YSti6XNBk9o-aseg" alt="">
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<p>Furthermore, Bitcoin’s dominance has been forming a weekly reversal pattern, whereby a rising wedge is coupled with a bearish divergence on the weekly <a href="https://coinpedia.org/traders/what-is-relative-strength-index-rsi/" target="_blank" rel="noreferrer noopener">Relative Strength Index</a> (RSI).</p> 
<p>Additionally, the Fed is about to initiate its first interest rate cut since 2021 ahead of the upcoming U.S. general elections.</p> 
<p>Also Read: <a href="https://coinpedia.org/price-analysis/with-a-bullish-shift-from-memecoins-will-defi-tokens-skyrocket/" target="_blank" rel="noreferrer noopener">With A Bullish Shift From Memecoins, Will DeFi Tokens Skyrocket?</a></p> 
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio">
 <div class="wp-block-embed__wrapper"> <iframe title="Altcoin Portfolio Down? Here’s What You Need to Know" width="1220" height="686" src="https://www.youtube.com/embed/VzX3eP8I6w4?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe> 
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<p><strong>The altcoin market is in turmoil. Are you buying the dip, or waiting for a clearer picture?</strong></p>

Altcoin Season in Trouble? Ethereum & Solana Suffer as Crypto Market Crashes

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