Cryptocurrency analysis company Alphractal evaluated the Bitcoin and altcoin market in its latest analysis.
According to the company's analysts, the Bitcoin chart appears to have entered a distribution phase, which could indicate that whale wallets are shifting towards altcoins.
According to Alphractal analysts, if indeed the BTC chart has entered a distribution process, the price could potentially fall or peak. However, as a result, capital could return from Bitcoin to altcoins.
In addition, the company’s crypto analysts noted that the sentiment on X and crypto news portals remains generally quite positive. People are not sharing negative content, which shows that investors are not afraid despite the recent decline. The BTC price had fallen from $ 108,000 to $ 92,000.
However, analysts added that the market typically experiences negative sentiment during periods of regulation, exchange problems, network glitches, and stablecoin and BTC-related FUD that cause people to share negative posts in general.
*This is not investment advice.
