Altcoin season is a bust as sentiment weakens: Analysts
NegativeCryptocurrency
- Analysts report that the current altcoin season is faltering, with Gabe Selby from Benchmarks noting nearly $4 billion in ETF outflows since October 10, indicating November could become the worst month for institutional outflows to date.
- This significant outflow raises concerns about investor confidence in the cryptocurrency market, particularly as it reflects a broader trend of caution among institutional investors who may be reassessing their strategies in light of recent market volatility.
- The situation highlights a growing divergence in investor sentiment, as while some cryptocurrencies like Solana are seeing inflows, major assets such as Bitcoin and Ether are experiencing substantial outflows, suggesting a complex landscape where diversification and regulatory uncertainties are influencing investment behaviors.
— via World Pulse Now AI Editorial System
