🚨 BTC plummeted, why are altcoins resisting the decline? 🚨
Yesterday, BTC dropped below $93,000, frightening many investors, but have you noticed that many altcoins remained stable and even rose against the trend! Especially BNB, which surged to nearly $700! 🔥
🔍 Let's explore the on-chain data:
Stablecoins are being withdrawn from exchanges, similar to the situation on December 7. A total of 5,000 BTC flowed out of exchanges, mostly from Binance. The ETF situation is also not optimistic, with substantial outflows for three consecutive days, totaling over $84 million.
💡 Why can altcoins withstand the pressure?
The resilience of altcoins lies in the direction of market liquidity. Although BTC is affected by a massive sell-off, a lot of funds have flowed into other quality projects. Especially BNB, UNI, FTM, etc., which are highly regarded by institutions and favored by the market.
🎯 Future outlook:
The key moving forward is whether BTC can stabilize at $92,000. If it can maintain a fluctuating consolidation, the spring for altcoins is not far away! Moreover, after Christmas, large institutions will return, and market activities will surely be reignited 🔥.
🔑 Investment advice:
DCA (Dollar-Cost Averaging) is a good strategy at this time! If you haven't acted yet, take a look at these potential projects: Uni, FTM, BTC, BNB! 📈 What if you're stuck in a position? Don't panic; there are still opportunities in the market, just need to grasp the timing accurately, where risk and reward coexist!
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