Bitcoin’s Rise Slows as Altcoins Rally and New U.S. Crypto Rules Take Shape: Sygnum
Sygnum’s latest report shows Bitcoin’s strong momentum from ETF inflows and low supply is facing pressure as altcoins gain ground.
Bitcoin is still trending up on strong exchange-traded fund (ETF) demand and low exchange reserves, but its dominance is slipping as altcoins rally and regulations evolve, crypto bank Sygnum said in a new Q3 report.
Bitcoin (BTC) ETF assets have now surpassed $160 billion, with more than 110,000 BTC added last quarter alone, the report notes. At the same time, exchange reserves have dropped to a near seven-year low, tightening available supply. According to CryptoQuant data, BTC reserves across exchanges currently sit at around 2.37 million coins.
Earlier this year, Bitcoin surpassed…
