$☕ MARKET TURN: BTC Pulls Back to $105k, but Specific Altcoins Ignore the Drop and Explode
The crypto market begins this Wednesday in a scenario of decoupling. Bitcoin ($BTC ) is undergoing a technical correction after failing to hold at higher levels, while speculative capital flows aggressively into niche altcoins.
BTC Thermometer:
The asset has retreated about 1.2% in the last 24 hours, trading in the range of ~$105,800. Despite the price drop, on-chain data shows a net outflow of BTC from exchanges, a sign that can be interpreted as long-term accumulation by investors.
Notable Movements (24h):
🔥 The list of gainers on Binance is led by significant and isolated rises. Highlights include $ARPA (+24%), $PORTAL L (+19%) and $CHESS (+19%). This indicates that traders are seeking "alpha" in projects with their own catalysts, ignoring the macro sentiment.
Narrative of the Day:
Hunting for Alpha in an Uncertain Market. With Bitcoin's indecision, the dominant narrative is not sector-specific, but rather a search for pinpoint opportunities in altcoins that the market considers undervalued or that have positive news on the horizon.
Agenda of the Day:
The market today digests the US industrial activity data released yesterday. Volatility is expected to remain contained until the employment data on Thursday and, mainly, the Non-Farm Payrolls on Friday.