Wintermute Says Capital Is Shifting From Altcoins to Bitcoin and Ether
Summary
- Wintermute said the altcoin market fell 5.69% over the past week and that investment flows are shifting into Bitcoin and Ether.
- Wintermute said recent market flows have been concentrated in Bitcoin and Ether rather than altcoins.
- Wintermute said Bitcoin's price needs to rise first for a broad altcoin rally to resume.
Forecast Trend Report by Period
Capital is shifting into Bitcoin and Ether as the altcoin market has fallen 5.69% over the past week, Wintermute said in an analysis.
On Oct. 20, the crypto market maker said the recent decline in altcoins has been accompanied by a rotation of investment flows into Bitcoin and Ether.
Wintermute said the altcoin market has dropped 5.69% over the past week. During that period, market flows were concentrated in Bitcoin and Ether rather than altcoins.
A broad altcoin rally is unlikely to resume until Bitcoin's price rises first, Wintermute said.
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