The Current State of Bitcoin and Large-Cap Altcoins in the Crypto Market
Traders Remain Uncertain as Bitcoin and Large-Cap Altcoins Struggle
Despite the upcoming halving hype, Bitcoin and large-cap altcoins are facing challenges in establishing a clear direction in the crypto market. According to data from Santiment, trading volume has been on a steady decline since March 6, indicating a sense of indecisiveness among traders.
While Bitcoin reached an all-time high of $73,737 on March 14, the subsequent correction has led to a stagnation in the market. Many top altcoins have also been moving sideways, reflecting the uncertainty among investors. However, some traders see this correction as a buying opportunity, as evidenced by the increased usage of hashtags like #dipbuy and #halving in 10 days across the crypto community.
Profitable Categories in the Crypto Market
Amidst the market uncertainty, Santiment data highlights that AI & Big Data, Liquid Staking, and DeFi are among the most profitable categories in the crypto market. The AI & Big Data category saw significant gains, possibly driven by Fetch.ai’s community approving proposals for a merger with Ocean Protocol and SingularityNET.
Additionally, the Liquid Staking category experienced gains despite the wider market correction, possibly due to high yields and the launch of Eigenlayer on the Ethereum Mainnet. These categories have shown resilience in the face of market fluctuations, attracting investors seeking profitable opportunities.
Overall, the crypto market remains dynamic and unpredictable, with traders closely monitoring developments in Bitcoin and large-cap altcoins. As the halving approaches, the market sentiment may shift, leading to new opportunities for traders and investors.
