BAT slid 60% over five months, according to CoinTurk News. The report frames the move as more about distribution mechanics than healthy demand.
CoinTurk News attributes the spike in on-chain activity around $BAT to a DAO airdrop. It specifically contrasts that catalyst with retail growth, implying traders saw activity without a clear buyer base.
On the macro side, CoinTurk News points to ongoing US-Iran tensions and a Fed transition as key headwinds. The publication characterizes the setup as a “tough summer” for crypto bulls, tying risk appetite to geopolitical and policy uncertainty.
In the same CoinTurk News piece, BTC is mentioned as also feeling the “summer lull” effect. The source text does not provide extra detail on BTC beyond that framing, so the takeaway stays focused on broader market conditions and the distinction between on-chain activity and actual demand.