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Is the Altcoin Bull Coming? Analysts Point to New Emerging Data
In its latest analysis, cryptocurrency analysis company Alphractal evaluated the Bitcoin and altcoin markets.
According to the company's analysts, the Bitcoin chart seems to be entering a distribution phase, which could indicate that whale wallets are shifting towards altcoins.
According to Alphractal analysts, if the BTC chart has really entered a distribution process, the price may potentially experience a drop or ceiling. However, as a result, capital can return from Bitcoin to altcoins.
In addition, the company's cryptocurrency analysts noted that the overall sensitivity on X and cryptocurrency news portals continued to remain quite positive. People are not sharing negative content, which shows that investors are not afraid despite the recent decline in BTC price from 108,000 dollars to 92,000 dollars.
However, analysts also added that the market typically has a negative sensitivity during periods such as regulations that generally lead people to share negative posts, stock market problems, network errors, and FUDs related to stablecoin and BTC connections.