Over 60% of alts have fallen by 60%! Can ETFs become a "lifesaver"?

Despite Bitcoin maintaining stability in the recent market, the days for altcoins have not been easy. Data shows that over the past year, more than 300 types of crypto assets have fallen by 30%-60%, with a number of altcoins led by dogwifhat (WIF) and Shiba Inu (SHIB) facing significant drops. Currently, more than half of the cryptocurrency market may be in distress.

The alts market is under pressure, while Bitcoin's dominance remains solid.
Although alts have collectively weakened, Bitcoin's market share remains stable at around 60%, demonstrating the solidity of its market dominance. This data also implies that alts still have some room for development, but strong catalysts are needed to reverse the current downturn.

Can ETFs become a booster for altcoins?

With the success of the Bitcoin ETF, the market's attention has begun to shift towards the possibilities of ETFs for other cryptocurrencies. Solana (SOL) and XRP are considered the next potential candidates for approved ETFs.

The Solana ETF broke multiple records in its first week of launch, demonstrating strong market interest in such products. However, despite the Bitwise SOL ETF setting a record for weekly inflows, the price of SOL continues to fluctuate between $180 and $200, failing to achieve a breakout.

Similarly, XRP has been hovering below $2.7 before the ETF approval, with a lackluster market performance. However, similar to SOL, options data indicates a neutral to slightly bullish market sentiment in the short term, suggesting that investors still have certain expectations for the future.

Besides ETFs, what other altcoins are worth paying attention to?

In addition to potential ETF candidate coins, Chainlink (LINK) and Fetch.ai (FET) have also shown positive signals. These tokens have experienced a significant influx of funds or a large outflow from exchanges, indicating that big money may be positioning itself.

Investment advice:

The current altcoin market is generally weak, but some coins have already shown signs of attracting investment. Key points to pay attention to are as follows:

1. Opportunities brought by the expected ETF: Coins such as SOL and XRP that may have ETF approval are worth long-term attention.

2. Capital flow changes: Pay attention to tokens with large inflows or outflows from exchanges;

3. Risk Control: It is still wise to remain cautious during uncertain market conditions.

Overall, while ETFs may bring opportunities for some alts, investors still need to remain rational and avoid blindly following the trend. In the highly volatile cryptocurrency market, risk control should always be the top priority.

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