The altcoin market has faced a notable decline in investor confidence, leading to diminished stablecoin inflows. With trading volumes now at only 25% of December 2022 averages, the total altcoin market cap has also dropped significantly since February 2023.

Current Tether netflows indicate weak investor sentiment, hitting lows not seen since November 2022. With the potential of testing the 750 billion USD support level, market participants are reportedly inclined to take profits amidst this bearish trend.