An eerie calm is pacifying the altcoins. Some traders are out of their trades currently, while they await what could be extreme volatility when the expected Spot Bitcoin ETF is announced.
A calm before the storm
The calm before the storm would be an apt description of the altcoin market right now. The vast majority of cryptocurrencies are flat or in the red, and it looks as though all are waiting for the ETF news from the SEC, and whether this is going to be bullish or bearish for the market.
Altcoins market cap on strong support
Source: Trading View
The altcoin market has taken a bit of a beating over the previous week, probably due to the uncertainty around the big bitcoin announcement, which looking from a positive aspect, has given the altcoins the chance to take a breather after their huge runup since mid-October.
As can be seen in the weekly chart for Total3 (all cryptocurrencies except $BTC and $ETH) the $87 billion correction for the altcoins has enabled the price to make a rea
We współpracy z: https://cryptodaily.co.uk/2024/01/altcoins-subdued-as-etf-announcement-awaited
