Altcoin Meltdown Continues, ETH Angst Rises, But BTC Remains Resilient

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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...