"Without a Narrative, Altcoin Market Faces Difficulty in Rebounding"

Son Min

Summary

Analysts have assessed that a strong narrative or a leading altcoin is needed for the altcoin market to rebound.
They noted that the rise of Bitcoin does not directly lead to a rise in altcoins.
It was stated that in the current situation where Bitcoin dominance is continuously increasing, altcoins are likely to lag behind.

An evaluation has emerged suggesting that without a special narrative, altcoins may continue to underperform.

On the 5th (local time), Matrixport released a report stating, "Over the past year, most analysts have predicted an altcoin season every month, but have not succeeded," adding, "If a strong narrative or leading altcoin does not emerge, the sluggish trend may persist."

Furthermore, it was noted that the rise of Bitcoin (BTC) does not create an altcoin bull market. The report stated, "An altcoin season occurs when there is a simultaneous decline in Bitcoin dominance and an increase in the total market capitalization of virtual assets (cryptocurrencies)."

Additionally, "Currently, Bitcoin dominance is continuously increasing, and Ethereum (ETH) is showing a lackluster performance," it reiterated, "If an altcoin to lead the market does not emerge, it will continue to lag behind Bitcoin."

BTC

ETH