The last couple of weeks in the digital assets market have been stormy, since investors registered sharp prices and significant losses. Altcoin Space required the most beating, since the world market capitalization experienced one of the largest devaluation in the recording.
Last week, Bitcoin investors survived that Glassnode It is called intensive trousers in price action. The host of the digital asset saw that its price initially fell by only 93 thousand dollars. USA, after which it recovered for a while and amounted to up to 102 thousand dollars. USA. Now it is trading closer to 95 thousand dollars.
The losses realized by the Bitcoins investors during these variable scope in the price action are advertised as one of the largest of the current market cycle of the bull market.
Bitcoin -investors see a small respite, despite the losses
Investors lost about $ 520 million, since the market sold up to 93 thousand dollars, which makes it one of the largest local surrender events. In fact, only losses, locked on August 5, 2023, during the trade of Ien, are unraveling, stand out as a larger one -day loss.
Most of the losses realized were registered with short -term owners, especially those who have acquired their coins over the past month. Their willingness to sell with losses hints at their sensitivity to price fluctuations.
The volatile price action, for the most part, is a response to the threat of President Trump to the tariffs used in Canada, Mexico and China, which provides an indefinite macro for investors, since everyone is watching how the drama is played out.
In addition, the constant power of the US dollar contributed to a slightly stressful liquidity environment.
Fortunately, despite the fact that in recent weeks, the price of Bitcoin hesitated greatly, it did not go very far from its starting position during this cycle, therefore, a change in price and, as a rule, movements in the lateral regime continue to prevail.
This is due to the significant growth of liquidity included in Bitcoin and larger capital flows, which balance the inertia of an increasing asset.
The growing presence of a more stable and patients of the group of owners also contributed to relatively stability of the BTC price, which use, even against the background of a relatively unstable macro.
Will they ever reach the altcoin sector?
While Bitcoin was not immune to the volatility in the markets, Glassnode analysts believe that he works relatively well.
The same cannot be said for the altcoins sector, who experienced significant pressure on the sales side among volatility, since many assets of all their might have tried to achieve the widespread use of the product or landing on the product market, representing a more complex market environment.
This led to a large -scale collapse of tokens prices, and all Altcoin subsiders have not worked in recent weeks. Using the analysis of the main components (PCA), which projects the correlation of the return token to the two-dimensional space to analyze the price of the reduction price, they found that most of the ERC-20 tokens are tightly grouped.
This means that a significant majority of altcoins should have dealt with the same broad sale, without the same inexplicable difference between different sectors. In short, very few tokens were immune to a lack of volatility, since most of the market fell immediately.
The scale of DIP becomes more obvious in the study of 14-day changes in the global market capitalization of Altcoin. Over the past two weeks, $ 234 billion has left Altcoin market capitalization.
The altcoins market, in fact, is located on the bear market, which is very interesting, because in its current form, Bitcoin has a good run and does not demonstrate the same relative weakness. This suggests that between the BTC and the rest of the digital landscape of digital assets, a discrepancy opens.
Key levels of support for bitcoins were identified at an average estimate of the MVRV Z-indicator in the amount of $ 96.3 thousand. USA, and the short-term cost of the owner is $ 92.2 thousand dollars. USA. Meanwhile, the prospects for the Altcoin sector are more uncertain and less optimistic, hoping for the altcoins market, faded with its assessment of hemorrhage.
