Three Cryptocurrencies in DEEP RED: Crisis or Opportunity? Analysis

It’s red there for the entire range of tokens that were guaranteed during the week we just left behind performance very important and growth often unrelated to the basics. As panic grows especially among newcomers, it becomes absolutely necessary to look at the situation, taking into account everything related to the trend of the crypto market in general and – specifically – what is happening in this market situation.

We predict that, according to our analyses, it is at least partially about necessary correctionafter bringing all or almost all major cryptocurrencies into the situation overboughtor from overbought. And hence the concern about the projects up days.

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The Collapse of Cryptocurrencies That Offered the Biggest Gains: What’s Happening?

The last 24 hours of the crypto market e Bitcoin they divided the main cryptocurrencies by market capitalization into two clear groups. While $BTC remains above $37,000 with some ease, most of the movement is concentrated in the sector altcoins and especially on those assets that offered the highest returns during the last trading sessions.

A token that binds to the namesake exchange it recorded a 24-hour loss of 10%, although it then tried to recover fairly quickly. Just as there were no fundamental reasons for its big rally, there are no reasons, other than technical trading ones, to justify the decline in the last few hours. Nothing to worry about – and for many another opportunity to enter the chip with very interesting performances.

The losses he recorded Saltworks they are small compared to the performances of the past few days. The token has bounced back below $60, but this is certainly not a compelling argument considering the fact that the coin in question has seen growth from 45%. The fundamentals for the collapse of the last few hours are also missing here. Little or nothing is changing in terms of technical trading, except that there has been a more than necessary pause in the above circumstances.

The same is true for Chainlink, the token associated with the most widely used trading system oracles of the world Ethereum. Extremely satisfying movement in the last week and then a correction with no fundamental changes. And there is very little cause for concern here. Just as there is little reason for prophecies of doom.

Some more interesting facts

Another interesting thing that everyone is talking about in recent days concerns the dominance of Bitcoinclearly in refuse on the eve of interesting performances in the world altcoins and especially the most capitalized ones.

BTC dominance
Bitcoin Dominance Chart

However, we are still on 52%which should make us think about the relative strength of Bitcoin, driven in part Spot ETFs partly by its status as safe harbor at a time of great financial turbulence.

The data coming from traditional finance should also be kept under control: it will be the week of US inflation and although Bitcoin has shown little correlation with classic risk markets, for tomorrow Tuesday the 14th everyone will hold their breath, or almost everyone will hold their breath.

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