Robinhood's crypto division head, Johann Kerbrat, reports that investors are increasingly viewing the current market downturn as a "buying opportunity," shifting focus from Bitcoin and Ethereum to other crypto assets. Kerbrat noted that Robinhood users are not only holding tokens but are also engaging in staking and DeFi activities, which remain attractive despite market volatility.
Despite this shift, the Altcoin Season Index indicates a continued preference for Bitcoin, with a score of 33/100. Additionally, US Bitcoin spot ETFs have experienced net outflows of $3.8 billion over the past five weeks, highlighting ongoing market fear.
Robinhood: Crypto Investors Eye Altcoins Amid Market Downturn
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