Altcoins Face Pressure Amidst Bitcoin’s Rebound and DeFi Manipulation Concerns

Bitcoin saw a rare 3% rebound last week, marking a respite from its recent downtrend as traditional equities like the S&P 500 remained near correction territory. However, the altcoin market grappled with challenges, including DeFi risks arising from attacks on Uniswap and Hyperliquid, leading to substantial losses. According to Kaiko research, the Total3 index hovered around $876 billion. Technical analysis suggests heightened volatility in the short term with key altcoin levels yet to be determined.