Altcoins have fallen this far—what exactly are dip buyers betting on?
CryptoQuant’s Darkfost just ran the numbers: from mid-August to late September, the altcoin market cap rose by 320 billion. This pullback wiped out 200 billion, erasing two-thirds of the gains. On Binance, 70% of altcoins have already fallen below the 200-day moving average, and that figure is heading toward 80%. In early October, 90% were above the average.
The Nasdaq is also down 14% from its peak. There’s nothing in the market that’s holding up.
But Darkfost left himself some wiggle room: historically, extreme weakness like this has sometimes come right before a reversal.
$BTC 7.58 ten thousand, $ETH 2238, and $SOL 90 are lying at our feet. Let the market grind through the weekend; we’ll see what happens when it opens on Monday.
A: 70% breaking down is a bottom signal. Get in now.
B: Everything below the moving average is a corpse. Wait for confirmation of a reversal.
#山寨币 #抄底 #Bitcoin
CryptoQuant’s Darkfost just ran the numbers: from mid-August to late September, the altcoin market cap rose by 320 billion. This pullback wiped out 200 billion, erasing two-thirds of the gains. On Binance, 70% of altcoins have already fallen below the 200-day moving average, and that figure is heading toward 80%. In early October, 90% were above the average.
The Nasdaq is also down 14% from its peak. There’s nothing in the market that’s holding up.
But Darkfost left himself some wiggle room: historically, extreme weakness like this has sometimes come right before a reversal.
$BTC 7.58 ten thousand, $ETH 2238, and $SOL 90 are lying at our feet. Let the market grind through the weekend; we’ll see what happens when it opens on Monday.
A: 70% breaking down is a bottom signal. Get in now.
B: Everything below the moving average is a corpse. Wait for confirmation of a reversal.
#山寨币 #抄底 #Bitcoin
