King cryptocurrency Although its unit lingered around $92,000, it fell to $89,256 today. Exactly 57 days BTC price It was finding buyers above $89,000 and after consecutive fresh ATH tests, it spiked below the key level. So, which altcoins returned to the buying level after such a big drop?
Bitcoin Drop
BTC price It has not been correcting for a long time, having spent extended periods below $92,000. At the weekend, he lingered around this area. Then, as the US markets opened to sellers, it broke the 57-day series and approached the bottom of $ 89,000. Some analysts claimed that we could face such a scenario when the price was still in six figures.
For now, the reasons for the decline are as follows:
- US employment data is coming in abnormally strong.
- After the expectation of 3 interest rate cuts this year fell to 2, it fell to a single cut in September with the employment data.
- Inflation data in the coming days is expected to be higher than the previous month.
- US Silkroad received court permission to sell BTC before the end of the year, and this was revealed last week. And if Biden is going to sell this before leaving office, he has 4 days left.
- Outflows continue on the ETF front.
- While DXY lingers around 110, there are concerns that Trump’s additional customs duties will negatively affect inflation.
Which Cryptocurrencies Are At Buy Level?
your years crypto- Investors who spent money in currencies were buying altcoins in the November 2022 crash. On days when fear is at its strongest, experienced investors take more risks for more rewards by tracking the right buy points. To date, in the long run, many altcoin This gave successful results.
In the table above, you see that cryptocurrencies are at overbought, neutral or oversold points according to their RSI values. Most of the altcoins have entered the oversold zone in the 12-hour period. We haven’t seen so many altcoins enter the oversold zone simultaneously in a while.
RUNMOODENG, WIF, BREAST and many more cryptocurrencies have the potential to rebound because they are oversold. If BTC makes a comeback, they may react quickly as well. Altcoins such as BAN, CGPT and XRP are relatively stronger and some other altcoins below the average RSI are;
- DEFI
- D.F.
- SYS
- ECB
- SANTOS
- ALPHA
- DUSK
- MINA
- ROSE
- ZETA
Et al.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
