Opinion: The current market rebound is mainly driven by institutions, and the altcoin market still faces uncertainty

On July 21st, Presto Research analyst Min Jung said: "Backed by the continuous institutional demand (especially from cryptocurrency asset management companies), Bitcoin continues to stay around its all-time high. Considering the nature of these buyers, they are unlikely to be aggressive sellers in the short term. That being said, we are beginning to observe profit-taking from long-term holders as the price breaks through previous highs, which may lead to some short-term volatility." Jung also stated that Ethereum's price has benefited from institutional investor support. An increasing number of publicly traded companies are starting to include ETH in their treasuries. Inflows into ETH spot ETFs have recently reached an all-time high, and at the same time, BTC ETF inflows have also exceeded those of BTC ETFs. "The key question now is whether this momentum can be maintained after such a strong rally last week. However, the market is showing early signs of the altcoin season, including a decrease in Bitcoin's dominance while Bitcoin prices remain stable and ETH prices rise."