Ethereum, Altcoins See 'Outsized Drawdowns' Due to Macro Pressures
Summary
Altcoins fell more sharply than Bitcoin as macroeconomic pressures, including rising inflation and a stronger U.S. dollar, weighed on risk assets. Ethereum dropped 5.5%, XRP 5.1% and Solana 3.8% over 24 hours, while Bitcoin declined 3.1%. Analysts cited increased hedging, reduced futures open interest and profit-taking after altcoins’ recent gains. Ethereum ETFs also recorded substantial net outflows. Analysts said altcoins may remain more sensitive than Bitcoin to market weakness, while the near-term outlook depends partly on interest-rate expectations and Bitcoin’s direction.
