Analyst: Market Funds Begin Redistributing to Altcoins, Traders Exhibit Speculative Mindset
According to ChainCatcher, cryptocurrency analyst @brianq stated that as Bitcoin prices have risen to between $94,000 and $96,000 over the past 5 days, market funds have begun redistributing to altcoins.
The overall cryptocurrency market increased by 10.2% last week, with a significant influx of funds into small-cap altcoins, especially Meme tokens, as traders exhibit a high-risk speculative mindset. Keywords like “altcoins” and “altseason” have surged in popularity on social media. However, history shows that the market often moves contrary to retail expectations, and the current enthusiasm for altcoins could signal a peak of greed.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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