The altcoins market continues to face strong selling pressure as top assets like Ethereum (ETH), XRP, Solana (SOL), Dogecoin (DOGE), Cardano (ADA) have all corrected 3-4% today. Market analysts believe that there could be some more pain ahead, expecting the Bitcoin dominance to peak at 71% before the actual altseason begins.
Will the Brutal Selloff In Altcoins Continue?
Altcoins have been showing major weakness and have been volatile to macro developments. Earlier this week, the broader crypto market came under strong selling pressure following fears of the Trump trade war. Furthermore, the recovery in the past few days has been only partial, considering the magnitude of the fall.
The latest 10x Research report mentions that there’s an inherent weakness in the Bitcoin price movement, which can spill over to altcoins as well. Also, macro developments like the Fed’s decision to delay interest rate cuts and declining US Dollar liquidity have discouraged crypto traders from increasing
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