Crypto majors such as SOL, AVAX, APT, SUI saw 40% to 70% corrections over the past months, weighing on altcoin sentiment, while BTC and ETH are down only 15% from their yearly highs.
The cryptocurrency market is undergoing a healthy consolidation after a massive run-up from October to March – at least for those who invested in the two largest digital assets. "Unlike equities which have a constant passive bid from ETF inflows and bond buybacks, crypto, and in particular altcoins, have the opposite – a constant stream of sell pressure," Quinn Thomson, founder of crypto hedge fund Lekker Capital,
When the market's appetite for the smaller, more speculative crypto assets is dwindling and trading volumes are falling – like in the past few months – there's not enough demand to absorb this supply shock.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Investingcom - 🏆 450. / 53 Read more »