Bitcoin's price changes affect altcoins significantly, causing many to fall to support levels. If Bitcoin continues to decline, it could lead to even lower prices for struggling altcoins. The focus is on the future of AVAX, with uncertainties surrounding its potential value.

Avalanche (AVAX) is currently priced at $36.6, facing challenges due to weak adoption and transaction rates. Despite positive market openings in the US, Bitcoin's price struggles at $63,400, below $65,000. Concerns arise as investors fear further declines below $60,000, especially with uncertainty over interest rate cuts by the Fed and the SEC's decision against an ETH ETF.

For the past month, AVAX's price remains below $40, with a significant gap compared to SOL Coin, which stays above $150. The market weakness seems likely to continue, as indicated by a sell signal in the daily active addresses price difference metric, reflecting investors' lack of confidence and appetite at the current price.

The adoption rate for AVAX is low, with only 16 out of 100 new addresses transacting on the network. This demonstrates a lack of demand and adoption for the altcoin. With $40 being a critical threshold for AVAX, continued closures below this level could lead to further declines, possibly dropping by 12% to $32. The current market conditions, negative sentiment from the ETH ETF, and legal actions by the SEC do not favor bullish outcomes.