Part 5/8:
As they transitioned to discussing altcoins, McCann provided insight into their current performance, especially in light of recent market movements. While Bitcoin demonstrated resilience amid market tumult, many altcoins faced steep declines. McCann suggested this could stem from excessive leverage within the ecosystem, leading to a systematic flushing out of positions.
He characterized the recent downturn in altcoins as a necessary “reset” of the market, noting that while it is possible for prices to drop further, the liquidation process can ultimately stabilize the ecosystem, creating room for growth in the future.