Accumulating altcoins like CHZ and AMP signal bullish momentum in the market.
Higher inflows into bearish altcoins indicate a potential distribution phase unfolding.
Bitcoin’s increased inflows could pressure prices, impacting overall market sentiment.
The Exchange Netflow Heatmap has provided valuable insights into the accumulation and distribution trends for altcoins. Analysis indicates a significant disparity between inflows and outflows.
As per analysis by CryptoQuant, several altcoins are showing signs of bullish sentiment, with higher outflows than inflows. This trend suggests that both retail and institutional investors are actively accumulating these assets, fostering potential positive momentum in the market.
Key altcoins to watch include CHZ, AMP, FET, GTC, ALICE, LINK, DAR, ALCX, YGG, SKL, MASK, OGN, SNS, DODO, CRV, BAL, ENJ, GALA, SLP, GHST, UMA, and NMR.
Bearish Sentiment and Altcoin Distribution
However, bearish sentiment is present among several altcoins with higher inflows. Some examples include STORJ, MATIC, SAND, JASMY, BAT, MANA, OMG, HOT, ENS, MKR, BNT, OCEAN, ANKR, COMP, GRT, QNT, TRIBE, ZRX, ILV, ETH, and AAVE. This indicates…
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