‍#BTC #ETH #PI #GT #GateioInto11

Bitcoin started the week with a 2% drop, triggering a broader market decline as major tokens like ADA, SOL, and XRP slumped by up to 5%. The ongoing sell-off appears to be driven by an unwinding of ETF and spot-linked trades, as well as market jitters surrounding U.S. tariffs and recession concerns. Traders believe that the liquidation of multi-strategy hedge fund positions, particularly the basis trade strategy—where funds buy spot BTC through ETFs and short BTC futures—has intensified the downward pressure. As spreads tighten and profits shrink, funds exit these trades, exacerbating the sell-off. However, despite the downturn, the "buy the dip" mentality remains strong, with investors eyeing potential volatility in altcoins and memecoins. Trading volumes for select altcoins have spiked following significant purchases by Trump’s World Liberty Financial and an ETF application involving AVAX. Analysts suggest that while large-cap coins like Bitcoin and Ethereum experience pressure, short-term opportunities in altcoins could emerge. With economic data remaining a key factor, traders continue to monitor market conditions while positioning themselves for potential rebounds.