财经少华
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Altcoin Short-Term Strength Hides Risks
1. Market Appearance: High Spirits and Sector Rotation
Bitcoin approaches its historical high, rising to $107,100, just a step away from the $108,800 historical high. The bullish sentiment in the market is strong, but extreme optimism should be wary of peak risk.
Altcoins briefly lead, with Bitcoin's dominance index falling from 65.38% to 61.89%. The market capitalization of altcoins has risen in the short term, but it encountered resistance at $1.17 trillion. A breakthrough of $1.31 trillion would signal the “Altcoin Season,” and a comprehensive altcoin rally has yet to be confirmed.
2. Key Risk: Declining USDT Reserves Indicate Liquidity Concerns
Stablecoin Purchasing Power Shrinks: The issuer of the market's “fuel,” USDT, Tether, has seen its reserves continuously decrease since mid-March. Data shows that a similar situation in June-July 2024 led to a 23.5% crash in altcoin market capitalization (a decrease of $275 billion).
If USDT reserves continue to decline, it may trigger a liquidity crisis, and caution is needed as altcoins could repeat significant corrections.
Core Reminder: Under short-term emotion-driven conditions, the strength of altcoins may be a temporary phenomenon. The outflow signal of USDT funds needs to be closely monitored to avoid chasing high risks.
1. Market Appearance: High Spirits and Sector Rotation
Bitcoin approaches its historical high, rising to $107,100, just a step away from the $108,800 historical high. The bullish sentiment in the market is strong, but extreme optimism should be wary of peak risk.
Altcoins briefly lead, with Bitcoin's dominance index falling from 65.38% to 61.89%. The market capitalization of altcoins has risen in the short term, but it encountered resistance at $1.17 trillion. A breakthrough of $1.31 trillion would signal the “Altcoin Season,” and a comprehensive altcoin rally has yet to be confirmed.
2. Key Risk: Declining USDT Reserves Indicate Liquidity Concerns
Stablecoin Purchasing Power Shrinks: The issuer of the market's “fuel,” USDT, Tether, has seen its reserves continuously decrease since mid-March. Data shows that a similar situation in June-July 2024 led to a 23.5% crash in altcoin market capitalization (a decrease of $275 billion).
If USDT reserves continue to decline, it may trigger a liquidity crisis, and caution is needed as altcoins could repeat significant corrections.
Core Reminder: Under short-term emotion-driven conditions, the strength of altcoins may be a temporary phenomenon. The outflow signal of USDT funds needs to be closely monitored to avoid chasing high risks.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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