Pressure on Altcoins Rises as Bitcoin Dominance Increases
The broader crypto market environment is also unfavorable for altcoins like PEPE:
Bitcoin dominance has increased to 65.02%, rising by 1% in just 24 hours. This shift reflects a rotation of capital from high-risk assets to BTC amid macro uncertainty.
The global cryptocurrency market capitalization fell by 2.1%, and meme coins, in particular, bore the brunt of risk sentiment.
The Fear and Greed Index dropped to 40 (neutral), sharply down from 73 (greed) in May, highlighting the waning enthusiasm of retail trading.
Despite a 24-hour trading volume increase of 17.85% to $805 million, flows were predominantly on the sell side, as indicated by an increase in long liquidations on major exchanges.#PEPE
