"Altcoins Expected to Move Sideways in the Short Term... No Macroeconomic Catalysts Present"

There is a high claim that major altcoins will move sideways for the time being.

On the 19th (local time), Valentin Fournier, an analyst at BRN, stated in an interview with The Block, "After Moody's adjustment of the US credit rating and large-scale liquidation, altcoins are likely to show a sideways trend for the time being."

He continued, "There are almost no macroeconomic catalysts until the Core Personal Consumption Expenditure (PCE) announcement on May 30 (local time)," adding, "There is no short-term downside risk, but new institutional demand and macroeconomic catalysts need to emerge for further gains."

Meanwhile, on the 16th (local time), Moody's downgraded the US national credit rating from Aaa to Aa1.