Glassnode co-founders Jan Happel and Yann Allemann predict that Bitcoin could enter a recovery path after its correction from $90,000 levels. Less selling by long-term investors (LTH) is considered an indication that the market is starting to stabilize. According to analysts, Bitcoin is currently trading at $96,726 and this correction could result in Bitcoin starting to recover. Less selling by LTHs indicates that the market is settling into balance.
Happel and Allemann state that long-term investors who took profits at Bitcoin’s $100,000 levels are acting more cautiously compared to the first quarter. “The fact that profit sales are low and less LTH is exiting the market during this correction period may be an indication that the bottom has been reached,” they explain.
Analysts are also making positive predictions for the AI-focused crypto project FET (Artificial Superintelligence Alliance). FET is currently trading at $1.62 and has gained 8.1% in the last 24 hours. Negentropic states that FET is based on strong fundamentals and has the potential to recover.
Negentropic notes that they pay attention to three main factors when evaluating alternative crypto opportunities during Bitcoin’s correction: strong fundamentals, neutral RSI, and the price still being in the accumulation phase. FET meets all of these criteria, so it is emphasized that it makes sense to accumulate at low levels. The squeeze in FET’s price since July means that it could create opportunities for investors, and this creates a suitable ground for those who want to implement a dollar-cost averaging (DCA) strategy.
The volatility in crypto assets such as Bitcoin and FET indicates that market dynamics should be monitored carefully. Long-term investors' selling tendencies and price movements in altcoins can play an important role in determining future market trends. When making strategic investment decisions in the crypto market, fundamental analysis and following market trends are of great importance. While Bitcoin's possible recovery process offers new opportunities to investors, the performance of alternative projects can also affect decisions.
