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The selling pressure on altcoins in spot markets has reached an extreme five-year level, and the valuation models and market position of this asset class are undergoing a systematic reevaluation.
On June 17, according to CryptoQuant analyst IT Tech data, the selling pressure of altcoins on spot CEXs has hit a five-year extreme level, with the spot market experiencing net selling for 15 consecutive months.
Excluding BTC and ETH, the cumulative buy-sell volume difference of altcoins has fallen to the deepest negative value since data has been available in 2020.
On June 17, according to data from CryptoQuant analyst IT Tech, the selling pressure of altcoins on spot CEXs has reached a five-year extreme level, and the spot market has recorded net selling for 15 consecutive months.
Excluding BTC and ETH, the cumulative buy-sell volume gap for altcoins has fallen to the deepest negative value since data has been available since 2020.