HashKey Capital Investment Manager: Small-cap altcoins may be expected to usher in new rotation opportunities

In comparison, HashKey Capital investment manager Rui tweeted that as Bitcoin fell from $29,000 to $25,000, the market had finally broken out of the volatile range. Assuming that $25,000 is the median of this round (20,000 to 30,000 US dollars), the key points that may affect the market are as follows: ETF approval is still the biggest variable in the short term, and the results are likely to be released in September-October. If the ETF does not pass, it will further dampen market sentiment. If the ETF passes, rising back to 30K will also trigger the Fomo effect. It will continue to fluctuate in the short term, waiting for the trend to respond to the news in advance. On the regulatory side, the June statement suggests that Binance has reached an initial settlement with the SEC, and it is unlikely that there will be sudden penalties in the short term. At the ETH level, a large number of Layer 2 projects were launched in the second half of the year, and abstract accounts, etc. were added. At the ecological level, if no new developments occur, many narratives will be falsified, so the activity on the chain should increase. After BTC falls, as long as BTC does not continue to fall, BTCD should theoretically increase, and some altcoins will experience price recovery (continued sluggish+good liquidity). At this stage, it is quite clear how exchange altcoins can be traded by a sharp rise and fall, and the small Alts market may continue to rotate rapidly. However, the market value of the previously popular on-chain altcoins is already relatively high, and the probability that it will continue to soar as Dazhuang withdraws is questionable.