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Altcoins have reached oversold levels, similar to those seen during the coronavirus crisis. Looking at the prices of most altcoins, it's clear they couldn't go any lower 🫡
What about BTC:
▪️ No overnight miracles happened; we continue to trade sideways between $90,000 and $85,000.
▪️ CryptoQuant analyzed the activity of highly active BTC wallets and now expects a localized rally after accumulation through the sideways trend is complete.
▪️ VanEck noted a sharp decline in BTC's hashrate. The leading cryptocurrency rises for the next 90 days after miners capitulate in 65% of cases. Not the biggest percentage 🕯
ETH Treasuries:
▪️ Tom Lee stockpiled another 29,462 ETH ($88 million)
▪️ ETHZilla, backed by Peter Thiel, sold 24,291 ETH ($74 million) to pay off debts. They still have ETH on their balance sheet, but accumulating the top two cryptocurrencies is no longer a priority 😟
Whales are suffering:
▪️ 0x72F8 sold 16.86 million ENA for a loss of $15 million (↓81%).
▪️ 3QB9kH dumped 3.806 billion PUMP for a loss of $12 million (↓62 million) 🔪
#btc $ETH #usdt #sol #ltc #xrp $GT $GUSD