Cryptocurrency analysis company Alphractal analysts evaluated Bitcoin and altcoins following the recent developments in the market.
They stated that if the correlation between altcoins and Bitcoin turns negative and drops to low values, it signals high-risk areas for the market. Analysts added that this picture was formed when the BTC price rose to $ 108,000.
According to analysts, altcoins have now started to follow the Bitcoin price movement again. When the BTC price falls, altcoins also fall and when it rises, they climb.
According to analysts, at the current stage, BTC dominance could typically stabilize or continue its rise.
In addition, Alphractal analysts claimed that the Chainlink price is being tracked by crypto whales on cryptocurrency exchange Binance.
Whale vs. Retail Investor Delta measures the difference between whales’ long and short positions compared to retail investors. According to analysts, this metric has been impressively consistent with LINK’s price action.
However, this is not an isolated case. According to the Heatmap, whales hold more short positions than individual investors. This is because individual investors tend to “buy the dip,” while larger investors exhibit better direction and resilience.
*This is not investment advice.
