Analyst: DeFi Assets Likely to “Nuke” 50%+ if Bitcoin Doesn’t Moon

Bitcoin has been consolidating throughout the past few days while altcoins continue losing value This trend has been well-defined throughout the past few weeks, showing that investors and traders alike are all currently focused on the benchmark cryptocurrency Although many analysts expect there to be some sort of capital rotation event out of BTC and into altcoins at some point, it’s unclear when this may take place DeFi assets have been hit the hardest by this weakness and may dive by another 50%+ unless Bitcoin goes parabolic in the near-term Bitcoin’s recent uptrend has sucked all the oxygen out of the market, sending many altcoins reeling lower. Its uptrend has proven to be particularly bearish for the DeFi sector, which has continued seeing a relentless decline over the past few days and weeks. This sector’s weakness is showing few signs of letting up anytime soon, and one analyst is now…

Read the original article here