Analysis: The altcoin season is coming to an end, with Bitcoin's momentum still weak

BlockBeats News, September 22nd, CryptoQuant analyst Mignolet stated, "The altcoin rotation is gradually coming to an end. Over the past two months, Bitcoin has been range-bound. This has driven a strong rebound in Ethereum, but after the rebound, Ethereum's trading volume share has started to decline, and trading activity has begun to flow into other altcoins."

At the same time, we are also starting to see signs of Ethereum withdrawal transactions. Back to the double-top phase in June, at that time I thought a significant pullback was unlikely, one of the main reasons being that the relevant data did not show significant changes. However, now the duration of the altcoin rotation has exceeded expectations, and this pattern has become apparent.

At the same time, Bitcoin's own trend remains weak. Of course, an interest rate cut could still bring about a reversal, but there are currently no convincing signs of a reversal. At this time, staying calm and cautious is a wise choice."