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Crypto trader Bonk Guy, who has about 339,000 followers on X, said altcoins have remained relatively resilient even as Bitcoin fell below $77,000.
Bonk Guy added Binance appears to have repurchased a significant share of assets affected by the hack, while around $3 billion in assets frozen on-chain could eventually be returned. Although BTC could fall further to form a short-term bottom, most of the selling pressure on altcoins has likely been absorbed, Bonk Guy said, adding the current market favors buying altcoins and using dollar-cost averaging on further dips.