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[Cotun] “38% of altcoins hit new lows… Worse than during FTX”
The cryptocurrency market environment has significantly deteriorated, with 38% of all altcoins recently falling near their all-time lows (ATL), according to crypto analyst Darkfost in a contribution to CryptoQuant. He explained, “Market liquidity is currently flowing into more volatile stock and commodity markets, while liquidity in the cryptocurrency market remains very fragile. Altcoins have faced the largest pressure ever recorded in this cycle. The proportion of altcoins hitting new lows was 35% in April last year and only 37.8% at the time of the FTX collapse. The fact that more tokens have reached new lows in this cycle suggests declining interest in altcoins and worsening investor sentiment. Investors are still maintaining a cautious stance and staying away from the altcoin market.”
Disclaimer: This article is for investment reference only and does not take responsibility for any investment losses incurred based on it. The content should be interpreted for informational purposes only.