#Ripple筹划设立10亿美元XRP资金池 Why Is ALCH Under Pressure? Several Perspectives

After the hype around AI concepts in November, the market has cooled significantly. Funds that followed the trend are starting to withdraw, and ALCH has fallen from its high of $0.24, which is the most direct reason.

On-chain data also confirms this — the concentration of holdings among the top ten addresses has dropped sharply, indicating that large holders are gradually cashing out at high levels. The selling pressure is relatively concentrated, and retail investors' buying power cannot keep up, leading to a direct price drop.

There are two other factors that cannot be ignored. First, ALCH itself has a small market cap, and both its market value and trading depth are not prominent. Second, in the Solana ecosystem, there are too many AI projects, and ALCH lacks unique applications to support it, so the heat is naturally diverted.

Last week, on-chain fund flows were continuously outflowing. There were no signs of a rebound in the market, which continued to weaken. Therefore, I precisely entered a short position around 0.138, set stop-loss and take-profit levels, and held the position until 4 a.m. Ultimately, I closed the position at 0.117 for a profit, with a decline of nearly 15%, surpassing the expected target by 0.001 points.

The recent decline of $ALCH still needs to be monitored for subsequent on-chain fund flows, as there is currently a lack of catalysts for a strong short-term rebound.