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no one’s talking about how these altcoins are tanking harder than my will to live 📉🤯 the bears are out in full
wait are we going to the moon or crashing back to earth?! 🌕📉 what’s the deal with these altcoins tanking like
bitcoin and altcoins facing significant sell-off pressure, potential relief rally sell-off imminent: glassnode reports profit-taking by long-term holders, hinting at
Key points:
📉 Bitcoin finds support below $107,000 but faces a potential relief rally sell-off. Several altcoins hit strong support levels with no rebound, suggesting ongoing downward pressure. Bears aim to keep BTC below $107,000 amid negative sentiment from dip buyers avoiding regional U.S. bank credit issues. Bitwise analysts suggest exhaustion in sales, hinting at a contrarian buying opportunity, despite Glassnode’s cautious stance on market reset and the need for new demand to confirm recovery.
📊 Glassnode reports a drop in long-term holders’ BTC supply, indicating profit-taking by mature investors and predicting a consolidation phase. Analysis delves into BTC and major altcoin support levels, with BTC likely to skid to $100,000 if it closes below $107,000, potentially signaling a bear trap if price surpasses moving averages. Ether, BNB, XRP, Solana, Dogecoin, Cardano, Hyperliquid, Chainlink, and Stellar face various price challenges and predictions.
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