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"After hitting an all-time high last week on the heels of regulatory approvals, BTC has seen a small pullback partially driven by leveraged liquidations of open interested positions. The other reason – Crypto Fear and Greed Index is nearing all-time highs last seen in Q1’20 – this had led to a rotation from BTC to alt-coins causing a drop in BTC dominance. Investors are starting to make bets on riskier coins hoping that the recent positive momentum in the space will fuel alt-season. Look no further than the memes.
We believe it’s too early to worry about a pullback since the overall market momentum seems positive and is supported by strong and continued innovation in the space (memes aside)."
-Harsharn Singh, Investment Associate @ Ember Fund
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