The cryptocurrency market continues to face significant challenges, with a new report revealing that a staggering 96% of non-fungible tokens (NFTs) have been deemed "dead." This sobering statistic highlights the struggles faced by the NFT market, which has been plagued by speculation and uncertainty.

Adding to the woes of the crypto ecosystem, Bitcoin exchange-traded funds (ETFs) have seen a massive outflow of over $1 billion in just 8 days. This outflow reflects the growing bearish sentiment among investors, as they move away from crypto-related products.

Meanwhile, the much-anticipated "altcoin season" has failed to materialize, with the Altcoin Season Index (ASI) dipping slightly to 18 out of 100. Despite the increased chatter and speculation around the possibility of an altcoin rally, the index indicates that the elusive "altcoin season" is still far off.

Source: https://crypto.aabeyllc.com/altcoin-season-chatter-heats-up-on-x-while-index-indicates-its-still-far-off/

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