CoinDesk reported that over the past month, altcoin perpetual futures open interest decreased by approximately 15%, while BTC increased by about 8%. The outlet stated, "Without Bitcoin's strong upward trend, altcoins are in a difficult situation to attract investors' attention. While BTC has been stably incorporated into the capital market through ETFs, institutional investor hedging, basis trading, and collateral utilization, most altcoins have not yet secured such a foundation. Furthermore, many projects have failed to present a clear structure for how token value is returned to investors, making them even more vulnerable in a bear market like the current one," it diagnosed. It added, "Tech stocks also showed weakness. The market is also paying attention to the possibility that funds that left the cryptocurrency market due to the AI investment craze could flow back in."
