Crypto Market Volatility: What’s Driving the Recent Altcoin Crash?

• Ash Crypto states that the absence of a compelling theme has contributed to the recent downturn.
• He maintains that excessive greed historically precedes market corrections.
• The analyst added that altcoin resurgence hinges on Ethereum’s performance.

Prominent cryptocurrency analyst and trader Ash Crypto has offered insights into the factors contributing to the recent flash crash experienced by altcoins. Over the past intraday sessions, several large-capped altcoins have dropped significantly in value despite Bitcoin’s relatively smaller 3% market correction. The crypto trader pointed to the lack of a new narrative, Ether ETF trading delay, and market greed as key catalysts for the dump.

Why Are Altcoins Dumping?
 
In the past 24 hours, several large caps
have dumped 15%–20% despite BTC's
3% corrections.
 
Here are some reasons behind the alts
flash crash
 
1) No narrative
 
In Q1, memecoins pumped because of presale hype.
 
In Q2, RWA coins pumped because… pic.twitter.com/zJK7v1taxh

— Ash Crypto (@Ashcryptoreal) June 18, 2024

Presale excitement in Q1 2024 sparked a surge in meme coins, followed by a rally in Real World Assets (RWA) in the second quarter,…

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