Following FED Chairman Jerome Powell’s Bitcoin statements, there was a major correction in Bitcoin and altcoins.
While the BTC price fell to $97,000 levels, altcoins also experienced declines of up to 10%.
As investors wonder if these declines will continue, crypto analytics platform Santiment has shared an indicator that points to a potential bottom.
According to Santiment, he noted that some altcoins are experiencing very large whale transfers, which are indicative of potential dip purchases.
At this point, Santiment listed the altcoins that experienced the biggest increase in whale transactions and said that whales increased their purchases in these altcoins.
“Despite significant crypto corrections this week, several altcoins are seeing very large whale transfers that are indicative of potential dips. Among market caps over $500 million, the following assets saw the highest increase in whale transactions over the past week:
1-Usual – USUAL 2-Virtual -VIRTUAL 3-Usual Money – USD0 4-Gnosis DAO – GNO 5-Fast Token – FTN 6-Aave – AAVE 7-FDUSD 8-Maker DAO – DAI (on Plolygon) 9-Floki Inu – FLOKI 10-Maker DAO (On Arbitrum)”
🐳 Despite sizeable crypto corrections this week, several altcoins are making very large whale transfers that are indicative of potential dip buys. Among $500M+ market caps, these are the assets seeing the highest rises in whale transactions over the past week:
1) @usualmoney… pic.twitter.com/yA0E3QyzAt
— Santiment (@santimentfeed) December 19, 2024
*This is not investment advice.
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