"Altcoins are now seeing severe drawdowns whenever BTC pulls back. With BTC absorbing most of the capital flow into crypto assets, altcoins are struggling to keep up, and without a fresh catalyst, their prospects for a comeback in the near-term appear slim."
"A favorable macroeconomic background into 2025 will provide a tailwind for the whole digital asset class, including altcoins," said Coinbase's head of research, highlighting that broader economic trends could influence the market positively.
"Bitcoin's grip on the whole digital asset class rose to a fresh 3.5-year high... as alternative cryptocurrencies continued to struggle against the leading crypto with the U.S. election looming over the market."
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