Speculators and spot traders of ApeCoin appeared to lack bullish conviction despite the 30% bounce.
There has been a substantial decline in interest within the Bitcoin NFT sector.
The drop in Open Interest combined with the price trajectory of the past weeks showed that a downtrend was possible for ETH.
If BTC halving causes the market to turn bullish, then Shiba Inu might touch its March 2024 highs soon.