Part 10/13:

Institutional players showed confidence by aggressively purchasing the dip. Reports indicate that giants like BlackRock’s spot ETF fund accumulated over 21,000 BTC amidst the turmoil. Likewise, XRP whales added over a billion tokens during the dip. This buying behavior suggests that savvy investors see the fundamentals still intact and anticipate a longer-term bull run.

Impact on Altcoins and Market Sentiment

The event, however, has cast doubt on the prospects of alternative cryptocurrencies. The “altcoin season,” which had been heating up, has now cooled off, with the altcoin index falling below the 75-point threshold that signals a healthy altcoin rally. Bitcoin’s market dominance has surged as capital sought safety in the king’s grip.