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BTC dropped to 57800 today, setting a new low for this round of decline. The previous high was 126000, with a cumulative drop of over $60k.
Many in the market believe that Ethereum and SOL have already hit rock bottom, but if BTC further retraces to the 50k mark, mainstream altcoins will find it difficult to show independent resilience.
Currently, BTC's market cap dominance remains high, while liquidity for other altcoins is nearly depleted, with chips basically controlled by institutions and consortia.
Many people wonder: with major players holding a large number of chips yet delaying a pump to stabilize the market, what will they rely on to attract off-exchange funds to come in and take over the chips?