With the declines in Bitcoin (BTC), Ethereum (ETH) and altcoins, talk of the altcoin bull market being in danger has increased. While it is thought that the altcoin season will take longer to arrive, even though there has been a recovery after the decline, Matrixport announced its new analysis. At this point, Matrixport assessed that the recent recovery in the altcoin market was short-term and concentrated on a few tokens. Analysts noted that the cryptocurrency market currently lacks clear fundamentals and is therefore finding it difficult to achieve sustainable bullish momentum. Analysts stated that the buying pressure in the derivatives market was not strong, and that investors did not enter the market and waited on the sidelines, thus the rise remained limited. “Despite a slight recovery in prices, many investors are waiting on the sidelines. Market enthusiasm remains limited, based on indicators such as the decline in futures funding rates. Analysts noted that altcoins have only experienced two short-lived surges at this point, with the most notable occurring in the fourth quarter of 2024, with only a few altcoins achieving significant gains. However, analysts said these rises have consistently lacked fundamental support and therefore none of them are sustainable. Therefore, they believe the recent recovery will likely disappoint again, saying, “the recent sharp decline in funding rates suggests the altcoin bull never fully fired up.” *This is not investment advice. Continue Reading: What's the Latest on Altcoin Season? Will It Be a Disappointment Again? Analysis Firm Explains!
