Ethereum, XRP, and Solana have suffered larger losses than Bitcoin since early October, falling by 11.2%, 12.9%, and 13.1%, respectively, compared with 3% for Bitcoin. According to Glassnode, the proportion of the 100 largest altcoins trading above their 200-day moving average has dropped from 88% on October 4 to 66%, while only 42% of the 500 cryptocurrencies analyzed remain above that threshold. Spot trading volume across the overall market has also declined, indicating weaker speculative demand for altcoins. The expected decision by the US Federal Reserve could weigh on the market, and another correction remains possible if Bitcoin continues to stagnate, although these indicators cannot predict a widespread downturn.
Source: Read the original article
