š More than 75% of altcoins are still underwater, according to Glassnode.
Historically, this has been viewed as a potentially bullish signal, suggesting there may still be significant room for the altcoin market to recover. š
Market tops have typically formed when more than 90% of altcoins are in profit, indicating widespread optimism and potentially overheated conditions.
š The takeaway: The altcoin market may still have room to run if demand strengthens, but a sustained recovery will be key to confirming the trend.
Historically, this has been viewed as a potentially bullish signal, suggesting there may still be significant room for the altcoin market to recover. š
Market tops have typically formed when more than 90% of altcoins are in profit, indicating widespread optimism and potentially overheated conditions.
š The takeaway: The altcoin market may still have room to run if demand strengthens, but a sustained recovery will be key to confirming the trend.