Open the season for altcoins... Alt holds up despite BTC dip

According to Cointelegraph, Bitfinex reports, “Altcoins have remained relatively strong despite BTC's recent decline. This suggests that the mindset of crypto investors is changing. They are realizing that Bitcoin is not the only safe haven in the face of growing market uncertainty,” the analyst said. “This shift shows that investors are moving away from the typical pattern of flocking to Bitcoin during economic downturns. As a testament to this, the altcoin market has been resilient during Bitcoin's decline. During the recent plunge, Bitcoin dominance declined by 1.3%, but the market capitalization of all coins outside the top 10 grew by 4.4%.” “Open interest in altcoins is also down 55% from its all-time high, indicating that sellers' attention has shifted away from speculation and fatigue has set in. Traders are likely to see less speculative betting on altcoins as a sign of market health,” the report added.