From NASDAQ Inc.:

The Great Crypto Rally of 2023 to 2024 seems to have come to an end, with both leading coins and altcoins declining in price. Cardano, Arbitrum, and Ethereum Classic all saw significant drops in value this week. Spot crypto ETF hype subsides, as excitement over these fairly new but significant assets wanes, contributing to the fall of Bitcoin and altcoins in the market. However, spot crypto ETFs are now a reality, allowing investors to buy and trade in cryptocurrencies through ETFs. Market seems to be taking a pause as investors take profits in digital coin and token holdings. The sell-off is also seen as proportional profit-taking after sharp rallies in the previous years.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.



Read more: Why Altcoins Like Cardano and Arbitrum Flopped This Week