Cryptocurrency exchange Bitfinex stated that altcoins showed resilience during last week's market sell-off, with a decrease in Bitcoin dominance (the proportion of Bitcoin market value to the total cryptocurrency market value) as selling pressure intensified, unlike previous market downturns. Bitfinex believes that if the market capitalization of Bitcoin has indeed reached a local high, altcoins may perform better in the coming months.

In its "Bitfinex Alpha" report released on Monday, Bitfinex pointed out that last week's market downturn pushed Bitcoin prices below the key low of $56711 seen on May 1st, a level that had previously triggered a rapid rebound. The recent sell-off has led to a decrease in leveraged positions, indicating that the market may be approaching local lows.

Bitfinex also pointed out that the correlation between Bitcoin prices and traditional financial markets still exists, and the significant outflow of funds from spot ETFs in the past week indicates that traditional financial investors are reducing their exposure to cryptocurrencies. It is worth noting that since August 27th, the net outflow of Bitcoin ETFs has reached $706.1 million, and the cumulative increase in spot trades (CVD) has shown a downward trend, indicating aggressive selling in the spot market.

At the same time, the altcoin market has shown resilience, with Bitcoin's market capitalization decreasing by 1.3% during last week's intensified sell-off, while all other cryptocurrency assets (excluding the top ten cryptocurrencies by market capitalization) increased by 4.4%. Bitfinex continues to write:

We cannot help but say that this change implies a potential pattern shift, where investors are seeking the value of altcoins, which is different from the typical pattern of investors flocking to Bitcoin during downturns

Bitfinex added that the number of open contracts for altcoins has also dropped by 55% from historical highs, indicating a cold speculative interest and potential exhaustion of sellers. In addition, as a representative of the altcoin market, the ETH/BTC ratio is still below its 365 day simple moving average (SMA), reflecting the overall poor performance of Ethereum (ETH) since its merger.

Bitfinex believes that if the market capitalization of Bitcoin has indeed reached a local high, "we may see a period of altcoins outperforming the market in the coming months, which could lay the foundation for a bullish fourth quarter if macroeconomic pressures ease.

data source

(责任编辑：市场数据)

• ·人民币国际化占比排名 人民币国际化排名前列
• ·印链ico价格-印联科技
• ·gxc最新价格行情-gxc价格今日行情
• ·Chainlink 或突破 16.5 美元，但关键阻力位仍是多头挑战
• ·10大虚拟货币BTC交易所排行榜 全球10大虚拟货币交易所排名
• ·LBank 荣登 CoinGecko 全球十大加密交易所，百倍币比例位居第一
• ·Solana玩家必学：JLP APY预测原理及利率交易套利模式研究
• ·以太坊发行钱包-以太坊发行钱包多少钱
• ·LBA币今日行情价格-lba币价格今日行情走势
• ·imtoken钱包可以哪些币
• ·2010年投资2000美元比特币或黄金，哪个更赚钱？
• ·如何打印总账和明细账
• ·活动板房租赁税率是多少
• ·日本十月天气穿什么-日本十月天气穿什么衣服
• ·公信宝在哪个平台-公信宝在哪个平台可以交易
• ·莱特帀今日价格-莱特价格今日行情