cryptd.in

암호화폐 친화적인 인재를 위한 대체 링크드인

Will Bitcoin Impede Or Support Altcoin Rally? On-Chain Data Signals Market Uncertainty

-

by

cryptd.in
in

According to an on-chain analyst on X, Bitcoin has decoupled from other cryptocurrencies or altcoins, which could lead to a severe price downturn within the market over the next day.

Why Traders Should Brace For Impact

In a July 18 post on the social media platform X, Joao Wedson, founder of crypto analytics firm Alphractal, 보고 that the Bitcoin price might witness a significant drop over the next day. The crypto analyst based his conclusion on multiple results obtained from on-chain analysis using three major metrics. 

First, Wedson referenced an earlier post made on X by Alphractal, saying that the market is currently dominated by long positions. According to the analyst, the effect of these long positions wouldn’t necessarily last long in a market where the shorts have been liquidated — a phenomenon which also holds for the reverse case. 

비트코인

The chart above is from the Correlation Heatmap – BTCUSDT versus ALTCOINS metric, which reads the trajectory of the two crypto categories and compares them. Using the chart as a foundation, Wedson mentioned that altcoins are decoupling from Bitcoin. 

When altcoins cease to follow the premier cryptocurrency’s lead, the development could be subject to a couple of interpretations, which affect market sentiment. As a result, it is normal to expect increased market volatility.

Wedson also referenced the Altcoin Season Index Vs Bitcoin metric, which is used to measure if altcoins are outperforming Bitcoin within a specific period. According to the analyst, this Altcoin Season Index is currently on the rise, which is typically a positive sign for the altcoins. 

However, if historical trends are anything to go by, a rising Altcoin Season Index might be a negative signal for Bitcoin. Wedson explained that the Bitcoin market might experience a dump, dragging along with it the currently rising Altcoins, to re-establish market balance.

The crypto pundit also cited the Alpha Quant Signal as an influence in his conclusion. Wedson pointed out that the metric flashed a sell, which was expected, seeing as some significant whales recently added to the sell pressure on Bitcoin by selling a fraction of their holdings.

Outlook For The Altcoins

Even as the market flashes ominous signs, Joao Wedson expressed optimism in the viability of the beginning of an altcoin rally, saying he doesn’t believe this is the final leg down for the crypto market. “But it’s likely a sign that the market is about to form a new price base. So be cautious with the traps that might show up along the way,” the analyst added. 

As of this writing, Bitcoin is valued at about $117,783, reflecting a mere 0.2% price increase in the past 24 hours. Representing the other camp, Ethereum, the “king of altcoins,” jumped by 2.23% in 24 hours and is currently valued at $3,562.

비트코인

댓글

답글 남기기

이메일 주소는 공개되지 않습니다. 필수 필드는 *로 표시됩니다

최신 피드

인기 카테고리

ko_KR 한국어
ko_KR 한국어 en_US English ro_RO Română et Eesti ja 日本語 ru_RU Русский de_DE Deutsch es_ES Español zh_CN 简体中文 fr_FR Français zh_TW 繁體中文 pt_PT Português it_IT Italiano pl_PL Polski tr_TR Türkçe nl_NL Nederlands id_ID Bahasa Indonesia el Ελληνικά uk Українська bg_BG Български cs_CZ Čeština fi Suomi hu_HU Magyar lv Latviešu valoda lt_LT Lietuvių kalba nb_NO Norsk bokmål sk_SK Slovenčina sl_SI Slovenščina sv_SE Svenska

웹사이트 검색

인기 스토리

태그

#AlexeyPertsev (1) #BidenCryptoBan (1) #BidenElection (1) #BinanceVsCoinbase (1) #B비트코인 (365) #BitcoinETF (3) #B비트코인기초 (1) #B비트코인 취급 (1) #B비트코인가격 (5) #B비트코인가격수준 (1) #B비트코인펌프 (1) #B비트코인예치 (1) #B비트코인서지 (1) #BitcoinTop (1) #Bitfinex (1) #B비트 단위 (1) #브레이스브리지캐피털 (1) #BRC20토큰 (1) #BTC취득 (1) #B울리스틱 예측 (1) #BullishSentiment (1) #C중국광업 (1) #CPIP리뷰 (1) #CryptoAsset (2) #CryptoBattle (1) #CryptoBoom (1) #CryptoExpert (1) #CryptoInsights (1) #CryptoMania (1) #CryptoMarket (4) #CryptoPrediction (1) #CryptoPredictions (1) #CryptoRegulation (2) #CryptoTakeoff (1) #CryptoTiming (1) #CryptoTips (1) #CryptoTreasury (1) #CryptoUncertainty (1) #DerivativeJump (1) #Dogecoin (62) #DogecoinGains (1) #DogecoinVolume (1) #DutchCourt (2) #ECommerce (1) 1TP5테엘살바도르비트코인 (1) 1TP5테더리움 (62) 1TP5테더리움통증 (1) 1TP5테더리움가격 (1) 1TP5전문가 의견 (1) #FedRateCut (1) #FiatCurrency (1) #FinancialImpact (1) #FinancialPrivacy (1) #FirmShutdown (1) #FrozenAccounts (1) #IllicitFunds (1) #인플레이션데이터 (1) #투자 (1) #투자손실 (1) #일본기업 (1) #LegalAction (1) #LegalImpact (1) #법률 (1) #라이트닝 네트워크 (1) 1TP5시장분석 (3) 1TP5시장 모니터링 (1) 1TP5시장 예측 (1) 1TP5시장 예측 (1) #MarketProjection (1) 1TP5마켓지원 (1) 1TP5시장변동성 (1) #M결혼 (1) #MemeCoin (5) #MemeCoins (2) #M광부수익성 (1) #MoneyLaundering (2) #MtGox (3) 1TP5북한암호화 (1) 1TP5노보그라츠예측 (1) #P가격 마일스톤 (1) #P가격 예측 (2) #P가격 질문 (1) #PriceSurge (1) #P형량 (1) #QuantAnalysis (1) 1TP5규제압력 (1) #SEC안티크립토 (1) #ShibaInu (5) #SocialBuzz (1) 1TP5기술분석 (1) #Toncoin (3) #TornadoCash (3) #TornadoCashDev (1) 1TP5토네이도캐시개발자 (1) #UKCrypto (1) #업사이드 잠재력 (1) #USCongress (1) #와이오밍랜드 (1) #XRP가격 (1) #XRP업스윙 (1)

유용한 링크

유용하다고 생각되어 공유하고 싶은 링크.