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▲ Bitcoin, Stocks/ChatGPT Generated Image
While Bitcoin (BTC) entered a breathing period with no significant fluctuations over the weekend, Zcash (ZEC) surged by approximately 8% in a single day, instantly shaking up the market trend.
On May 2 (local time), crypto media outlet CryptoPotato reported that in the recent market situation, while Bitcoin showed a stable trend around $78,000, some altcoins showed relatively strong upward momentum. After attempting to break $80,000, Bitcoin's upward trend slowed, entering a sideways consolidation phase without establishing a clear direction. Coupled with the characteristic decrease in trading volume during weekends, a wait-and-see sentiment spread across the market.
Amidst this stagnant phase, Zcash recorded the most prominent rise among major altcoins. This indicated a trend where some funds moved to altcoins while Bitcoin's movement stalled.
In the weekend market, a pattern of individual altcoins experiencing short-term surges when Bitcoin consolidates has been repeated. This time, a similar trend appeared, drawing market attention to specific assets.
Meanwhile, the current market continues to pause without clear upward momentum, and funds are selectively shifting.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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