Watch out! The cryptocurrency market just took a hit of $60 billion 😱, just as you read! From a peak of $3.92 trillion, the total market capitalization dropped to $3.86 trillion, and this is telling us something very important: altcoins are losing strength and money is slipping away like water between fingers. 💸
According to experts from AMBCrypto, there are signals indicating that things could get worse for altcoins. Remember when Bitcoin and altcoins moved almost the same? Well, that connection is breaking. The correlation heat map from Alphractal shows they are decoupling, and that has historically meant trouble for altcoins! 📉 Few cryptos will hold the line, while most could see their prices plummet.
And no, we are not in an "altseason" (that golden time when altcoins shine). The Altseason index tells us that only 17 altcoins have outperformed Bitcoin in the last 60 days. Just a few! This means that liquidity (that is, the money that is out there) is concentrating on a few assets, which could cause people to put their money back into Bitcoin. 💰
If that happens, we would see a repeated movie: altcoins go up a little and then... bam!, they fall again. The Alpha Quant signal is also shouting "sell!" on the chart, and if we look at the past, every time this signal appears, a strong drop follows! 😬
But, pay attention! Not everything is lost for altcoins. There is a glimmer of hope if the ETH/BTC chart continues to rise. This would indicate that money is moving from Bitcoin to Ethereum and other altcoins. If this pair keeps going up, altcoins might have a chance to recover. 🙏
But if that chart goes down, then yes, prepare for a massive sell-off of altcoins. So, stay tuned to the news and charts! Could this be the beginning of a big change in the crypto world? 🤔$BTC $ETH $SOL
