On August 3rd, the spot trading volume of Bitcoin on Binance and other mainstream trading platforms dropped to levels close to the end of the bear market phase in 2023. During May, Bitcoin accounted for nearly 40% of Binance's trading volume. Currently, the proportion of altcoin trading volume has risen to 60%, Bitcoin's proportion has dropped to 22%, and Ethereum's proportion is about 18%. Darkfost stated that Bitcoin prices have had limited volatility for several weeks, and the market has entered a boring phase, with some investors turning to altcoins to capture trading opportunities. Analysis suggests that some investors are betting on altcoins to outperform BTC in the future, but such strategies carry higher risks.
