The post Altcoin Meltdown Continues, ETH Angst Rises, But BTC Remains Resilient appeared on BitcoinEthereumNews.com.

Crypto markets are down a further 2.7% on the day, with total capitalization falling to $3.6 trillion, and altcoins are taking the brunt of the fall. “Capital is unlikely to rotate from BTC to alts because the majority of CT [crypto Twitter] is self-confessed to be mostly in altcoins,” observed trader ‘TXMC’ on Jan. 29. Analyst James Check concurred, stating that it is “very clear” before adding, “CT is massively underinvested in Bitcoin, overweight alts, and specifically the alts that didn’t go up.” Hence, sentiment is rekt on a 1% BTC pullback, “which results in a -30% on their portfolio,” he added. I’m working on quantifying this as we speak, and it’s very clear. CT is massively underinvested in Bitcoin, overweight alts, and specifically the alts that didn’t go up. Hence sentiment is rekt on a 1% BTC pullback…it results in a -30% on their portfolio. https://t.co/9g968usmw8 — _Checkmate ⚡☢️️ (@_Checkmatey_) January 28, 2025 Ethereum Angst Rising Meanwhile, trader ‘Bluntz’ told his 314,000 followers on X: “The altcoin capitulation while BTC is still above $100k is really something to behold, I don’t think its ever been this bad before.” Ethereum is taking a lot of the pain as its prices fell back to $3,000 again on Tuesday before it managed to recover some ground. ETH has now dumped 16% since its January high of just over $3,700 three weeks ago. The ETH/BTC ratio continues to weaken as Bitcoin remains above six figures. It is currently at 0.03 and close to its lowest level for almost four years, according to Tradingview. ETH/BTC chart looks like this and Vitalik comes lectures us on how things work.. pic.twitter.com/0zSAGNKF2y — CoinMamba (@coinmamba) January 28, 2025 There has been a lot of dissent and a leadership shakeup at the Ethereum Foundation recently, which has put…

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Filed under: News - @ January 29, 2025 7:27 am