Wintermute Says Capital Is Shifting From Altcoins to Bitcoin, Ether
JH Kim
Summary
- Wintermute said the altcoin market fell 5.69% over the past week, while investment flows shifted to Bitcoin and Ether.
- It said capital flows during that period were more concentrated in Bitcoin and Ether than in altcoins.
- Wintermute said Bitcoin's price needs to rise first for a broad altcoin rally to resume.
Forecast Trend Report by Period
Wintermute said capital is moving into Bitcoin and Ether as the altcoin market fell 5.69% over the past week.
On Oct. 20, the crypto market maker said recent weakness in altcoins has been accompanied by a shift in investment flows toward Bitcoin and Ether.
According to Wintermute, the altcoin market declined 5.69% in the past week. Over that period, capital flows were more concentrated in Bitcoin and Ether than in altcoins.
Wintermute said Bitcoin's price needs to rise first for a broad altcoin rally to resume.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.