Ki Young Ju, CEO of CryptoQuant, has reported a significant rise in limit buy orders for altcoins, signaling a potential rally. This surge suggests that investors are establishing strong buy walls for altcoins, excluding Bitcoin and Ethereum, possibly in anticipation of an impending altcoin rally.
âWhales are preparing for the next altcoin rally,â Ju posted on X (formerly known as Twitter).
Indicators of a Potential Rally
The increase in limit buy order volume indicates robust buying interest, which often precedes market upswings. For those unfamiliar, limit orders create âquote volumeâ on exchanges, while market orders generate âtaker volume.â Whales and institutions, such as market makers and brokerages, typically use limit orders for large trades to minimize slippage.
Altcoins Rise as Bitcoin Rises
During an altcoin rally, the prices of alternative cryptocurrencies experience significant increases. This surge is often driven by positive market sentiment, increased trading volumes, and a shift of investor focus from Bitcoin to altcoins. Factors such as Bitcoin price movements, fear of missing out (FOMO), and market speculation play crucial roles in an altcoin rally. When Bitcoinâs price rises, profits often flow into altcoins, further boosting their prices.
Limit order indicators are calculated by summing the difference between buy and sell quote volumes over a one-year moving window. An upward trend signifies a rise in quote buy volume, pointing to the formation of strong buy walls. This pattern suggests a potential bullish movement in the altcoin market.
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In addition to the positive signs for an altcoin rally, the Fatty.io presale is gained attention. FATTY, multiple utility token for active and passive income.
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