Analysis: The altcoin rotation market is nearing its end, while Bitcoin remains sluggish

BlockBeats News, September 22, CryptoQuant analyst Mignolet stated, "The altcoin rotation is gradually approaching its end. Over the past two months, bitcoin has been fluctuating within a sideways range. This has driven a strong rebound in ethereum, but after the rebound, ethereum's share of trading volume began to decline, and trading activity started to flow to other altcoins.

At the same time, we are also beginning to see signs of ethereum withdrawal transactions. Going back to the double-top phase in June, I thought a significant pullback was unlikely at that time, one of the main reasons being that there were no significant changes in the relevant data. However, now the duration of the altcoin rotation has exceeded expectations, and this pattern has become evident.

Meanwhile, bitcoin's own trend remains weak. Of course, a rate cut could still bring about a reversal, but there is currently no convincing sign of such a reversal. At this point, it is wise to remain calm and cautious."