In December, I clearly shouted about the altcoin bear market.
There’s no such thing as a rebound to break even; it’s just the illusion of retail investors before they die.
Although the trend of BTC is not very clear and is likely still in a bull market, altcoins are definitely in a bear market. Since the altcoin bear market began last December, the most significant event was the crash of ACT. This marked a lack of liquidity for altcoins, making it almost impossible to profit from shorting. Then BTC surged, and altcoins followed suit, exploding in shorts.
Essentially, nothing has changed; there are no new narratives in the altcoin space, nor are there new entrants.
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