The world is still under a combination of "high interest rates + low growth", with a general risk appetite for traditional assets being low, and funds are more inclined towards high liquidity, leading assets (BTC/ETH) rather than small market capitalization tokens.
Cryptographic assets are increasingly viewed as "high volatility risk assets" in institutional allocation, with respect to macro liquidity and Federal Reserve interest rate expectations.
The market is highly sensitive; once there are expectations of "interest rate cuts" or "easing signals," it often reacts first on BTC before spread
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