Altcoins bullish soon? READ ON đœ
With CZ's return from prison and the recent ETF news, we can expect more upside from late September to November.
Personally, I'm focusing on accumulating between now and September 27th.
Based on an on-chain analysis report shared by @santimentfeed, a slight price drop in Bitcoin led to a significant decrease in total open interest on exchanges.
Bitcoinâs price declined by 2.2% in the last 24 hours, while open interest on exchanges dropped significantly by 7.5%.
This decrease in $BTC indicates that investors are reducing their risks and exposure to Bitcoin amid market uncertainty.
In contrast, stable open interest in ETH and SOL suggests these assets are less affected by Bitcoin's price fluctuations this month.
The slight decline may indicate that major investors are shifting capital from Bitcoin to altcoins, seeking higher returns and diversifying their risks.
Bitcoin's open interest is dropping, hinting traders think the rally is over and are selling at peak.
BTC is now about $62,444, and ETH around $2,621.
Bitcoinâs drop in open interest is pushing investors towards altcoins like Ethereum and Solana. As BTC dominance fades, these altcoins are expected to gain more attention, so get ready to accumulate!
Source Image: @santimentfeed
