🚨 $BTC | EL 87% OF BINANCE’S ALTCOINS ABOVE A KEY LEVEL: WHAT COMES NEXT?
The crypto market shows signs of broad recovery, but there are indicators that call for caution.
📊 According to an analysis by Darkfost, a CryptoQuant contributor, approximately 87% of the altcoins (alternative cryptocurrencies to Bitcoin) analyzed on Binance are trading above their 200-day moving average (the average price over the last 200 days).
In addition, the combined value of the crypto market, excluding Bitcoin, would have increased by roughly 45% since June.
Does this mean we’re entering a new bullish phase? It’s still too early to confirm.
⚠️ TWO SIGNS WE SHOULD KEEP AN EYE ON
1. Increase in deposits on exchanges (platforms where cryptocurrencies are bought and sold). This can anticipate greater selling pressure, although it doesn’t necessarily mean that sales are actually being made.
2. Possible weakening of bullish momentum (loss of strength in price rallies). A broad recovery doesn’t guarantee that all cryptocurrencies will keep rising.
🔎 WHAT COULD HAPPEN NOW?
🟢 Bullish scenario: if demand continues and prices hold their main support levels (areas where buying could stop a drop), the recovery could extend.
🔴 Bearish scenario: if selling increases and prices break those supports, a correction could occur (a pullback in prices after a rise).
🎯 WHAT TO DO?
For now, observe. Don’t chase gains without confirmation, and don’t interpret a broad recovery as an automatic buy signal.
The key will be to identify which cryptocurrencies maintain their strength and which begin to show signs of exhaustion.
📌 NOTE / ANTICIPATION
#BTC #altcoins #Binance #crypto #Trading
The crypto market shows signs of broad recovery, but there are indicators that call for caution.
📊 According to an analysis by Darkfost, a CryptoQuant contributor, approximately 87% of the altcoins (alternative cryptocurrencies to Bitcoin) analyzed on Binance are trading above their 200-day moving average (the average price over the last 200 days).
In addition, the combined value of the crypto market, excluding Bitcoin, would have increased by roughly 45% since June.
Does this mean we’re entering a new bullish phase? It’s still too early to confirm.
⚠️ TWO SIGNS WE SHOULD KEEP AN EYE ON
1. Increase in deposits on exchanges (platforms where cryptocurrencies are bought and sold). This can anticipate greater selling pressure, although it doesn’t necessarily mean that sales are actually being made.
2. Possible weakening of bullish momentum (loss of strength in price rallies). A broad recovery doesn’t guarantee that all cryptocurrencies will keep rising.
🔎 WHAT COULD HAPPEN NOW?
🟢 Bullish scenario: if demand continues and prices hold their main support levels (areas where buying could stop a drop), the recovery could extend.
🔴 Bearish scenario: if selling increases and prices break those supports, a correction could occur (a pullback in prices after a rise).
🎯 WHAT TO DO?
For now, observe. Don’t chase gains without confirmation, and don’t interpret a broad recovery as an automatic buy signal.
The key will be to identify which cryptocurrencies maintain their strength and which begin to show signs of exhaustion.
📌 NOTE / ANTICIPATION
#BTC #altcoins #Binance #crypto #Trading