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Details: ht
Analysis: The altcoin rotation market is nearing its end, while the Bitcoin trend remains weak.
On September 22, CryptoQuant analyst Mignolet stated, "The rotation of altcoins is gradually approaching its end. Bitcoin has been oscillating within a sideways range for the past two months. This has driven a strong rebound in Ethereum, but after the rebound, the trading volume share of Ethereum has begun to decline, with trading activities starting to flow to other altcoins. At the same time, we are also starting to see signs of Ethereum withdrawal transactions. Back in the June double top phase, I thought a significant pullback was unlikely, one of the main reasons being that relevant data had not shown significant changes. However, now the duration of the altcoin rotation has exceeded expectations, and this pattern has become evident. Meanwhile, Bitcoin's own performance remains weak. Of course, a reduction in interest rates may still bring a reversal, but there are currently no convincing signs of a reversal. At this time, remaining calm and cautious is a wise choice."