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Analysis: NFT rally suggests traders are cycling out of Bitcoin and exploring other speculative plays in the crypto market
Odaily News The total market value of NFTs has now exceeded $6.3 billion, almost doubling from $3.2 billion less than a month ago. At the same time, Bitcoins market share has fallen by 6.6% to around 61%. Market analysts believe that the return of NFTs provides a signal that traders are cyclically exiting Bitcoin and re-exploring speculation in the crypto market, which means that once Bitcoin consolidates and investors begin to shift capital to high-risk assets, altcoins tend to move more aggressively. (DL News)
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