Investors shifting to altcoins as Bitcoin stalls, Decrypt reports

Cryptocurrency investors are moving funds to altcoins as Bitcoin's recovery stalls, according to an analysis by Decrypt. The media outlet noted that while Bitcoin's price has seen reduced volatility and is moving sideways, some altcoins posted double-digit gains last week. Among the top 50 altcoins by market capitalization, tokens such as Zcash (ZEC), Pepe (PEPE), Bittensor (TAO), and Aster (ASTER) recorded gains of around 20%. The report also highlighted that the Bitcoin derivatives market has experienced five major liquidation events exceeding $1 billion this year. As a result, investors are now turning to the altcoin market for speculative opportunities. However, Decrypt explained that this trend is not indicative of a widespread altseason, as only tokens with specific narratives are sustaining upward momentum.