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Analysts: Market funds are beginning to be reallocated to alts, and traders are showing a speculative mentality.
ChainCatcher news, encryption analyst @brianq stated that as the price of Bitcoin has risen to between $94,000 and $96,000 in the past 5 days, market funds have begun to be reallocated to alts. The overall cryptocurrency market rose by 10.2% in the past week, with a significant influx of funds into small-cap alts, particularly Meme tokens, as traders exhibited a high-risk speculative mindset. Keywords such as "alts" and "alts" have surged in popularity on social media, but history shows that the market often moves contrary to retail expectations, and the current enthusiasm for alts may signal a greedy top.