Blue-Chip Domine don spark $200B pullback; Altseason stop
Dis week crypto market way do small pull-back, market cap reduce by 5% from $4.0 trillion to $3.8 trillion, na $200 billion waka comot. Traders move enter blue-chip crypto assets, Bitcoin dominion rise as BTC drop 3.1% and ETH dash pass many altcoins.
Ethereum dominion climb from 9.5% to 14%, but e market cap still dey lag behind 2021 peak, so the gap between BTC and ETH widen to $1.865 trillion. Altseason index drop from 56 to 51, show say fourth breakout fail and altcoin momentum stall.
Market feeling cautious, e show say blue-chip crypto still be safe place.
Bearish
Di report say $200 billion pullback and falling altseason index mean say risk dey waka comot from small small tokens, e show say crypto market get bearish pressure. For short time, traders dey sell altcoins and dey find better position for top crypto assets like BTC and ETH, dis fit help keep small stability for these top coins but e go dey drag market spirit down. For long run, if altcoin momentum weak still and altseason no show progress, e fit hold back speculative rallies and make traders dey cautious. Overall, dis kain situation mean say small assets go still dey under pressure and BTC, ETH get neutral to small bearish outlook, because their safe-haven status fit stop big fall but e no go sharply cause bullish bounce back.