Matrixport, the cryptocurrency company of famous Chinese billionaire Jihan Wu, said that the altcoin collapse is approaching due to the $ 3.4 billion sale of FTX.
Markus Thielen, Head of Research at Matrixport September 11 In a research report published on the company’s official website, he stated that the altcoin collapse was coming.
Thielen, first of all, the bankrupt cryptocurrency exchange FTX $3.4 billion In light of various reasons for liquidation, altcoins will continue to decline throughout the remainder of the year. a negative picture He said he could draw.
Mentioning in the report that there are other actors that increase the sales pressure other than the FTX liquidation, Thielen said that venture capital companies are also interested in returning the funds they collected to their investors. under pressure He implied that it was and that this increased the sellers in the market.
These VC funds will likely remain significant sellers of altcoins and will need to cash out.
Apecoin (APE) under pressure from venture capitals 17 September supply in circulation on 11.02% of The report emphasizes that there will be a lock opening of approximately 50 million dollars It was stated that assets worth Thielen said Apecoin last week 10% decrease While stating that he was experiencing a positive trend, he used expressions to indicate that the decline may continue this week as well.
The decline in Solana (SOL) may continue
Another issue mentioned in the report is the financial markets, which have attracted the attention of investors by losing serious performance in the last week. solana it happened. Matrixport says FTX liquidation will impact cryptocurrency may cause selling pressure told.
Matrixport acquired Solana last week. 6% decrease At this point, while emphasizing that he lives 15 to 10 dollars He underlined that the levels are important for Solana.
On-chain analytics company IntoTheBlock last week Solana and payment services giant Visa He pointed out that even the important cooperation between the companies could not have a lasting positive effect on Solana and suggested that this situation might be related to the liquidation of FTX.
$1,000 scenario in Ethereum (ETH) could be resurrected
The report suggested that Ethereum may see a decline by the end of the year. Thielen on Ethereum $1,500 In case the level breaks downwards $1,000 He pointed out that the scenarios may arise again. Ethereum price according to the information given $1,752 ben 50-day price average remained under. This was cited as another factor pointing to a downward trend.
General Ethereum’s current state Underperforming Bitcoin (BTC) The report states that the cryptocurrency market is in its current state. driven by systemic risk sensitivity was discussed and investors were warned to be cautious.
The rise in Bitcoin (BTC) is not well-founded
On the other hand, Bitcoin has increased since the beginning of the year. Nasdaq (NDX) It was stated that it still maintains its top-notch status in terms of performance. However, since Bitcoin achieved its primary performance in a very narrow time frame of the year, the rise Not built on solid ground was also emphasized.
In addition, in the current situation, the price of Bitcoin $25,836 the one which… 50-day price average Matrixport stated that this situation indicates a downward trend.
Weekly Bitcoin And Ethereum in order of volumes 37% And 31% Matrixport pointed out that the Low liquidity may pose a risk of driving prices down. expressed.