Close Menu
ApeWatcher News
  • Home
  • Advertise
  • Headlines
  • Crypto
    • News
    • Bitcoin
    • Ethereum
    • Altcoin
    • View All
  • DeFi
  • NFT
  • Metaverse
  • Guides
  • Rates
  • Videos
  • Listing Platform
  • BSC
  • ETH
  • Listing Platform
  • BSC
  • ETH
What's Hot

Trump’s use of presidential seal at memecoin event raises legal questions

May 24, 2025

DOGE, ADA, XRP News: Dogecoin, Cardano, Ripple Fall 7% in Weekend Bloodbath

May 24, 2025

US Seizes $868K in Crypto From Dating Scam That Drained Wallets

May 24, 2025
X (Twitter) Telegram
  • Listing Platform
  • Home
  • BSC
  • ETH
Advertise
X (Twitter) Telegram
ApeWatcher News
  • Headlines
  • Crypto
    1. News
    2. Bitcoin
    3. Ethereum
    4. Altcoin
    5. View All

    Trump’s use of presidential seal at memecoin event raises legal questions

    May 24, 2025

    DOGE, ADA, XRP News: Dogecoin, Cardano, Ripple Fall 7% in Weekend Bloodbath

    May 24, 2025

    US Seizes $868K in Crypto From Dating Scam That Drained Wallets

    May 24, 2025

    Raoul Pal Predicts $140,000+ Bitcoin by July, Says Key Metric Flashing Bullish Signal for BTC

    May 24, 2025

    Raoul Pal Predicts $140,000+ Bitcoin by July, Says Key Metric Flashing Bullish Signal for BTC

    May 24, 2025

    Bitcoin treasury companies will hold ‘way more’ than Bitcoiners expect: Exec

    May 24, 2025

    Bitcoin ETFs post $2.75B in weekly inflows as price sits above $108K

    May 24, 2025

    Will Bitcoin bulls secure $110K before BTC’s $13.8B options expiry?

    May 24, 2025

    BTC, ETH, XRP, BNB, SOL, DOGE, ADA, SUI, HYPE, LINK

    May 23, 2025

    The future of Web3 is not blockchain

    May 23, 2025

    Bitcoin Primed To Go Higher Faster Than Expected, Says Analyst Michaël van de Poppe – Here Are His Targets

    May 22, 2025

    Whale buys back ETH holdings after missing $2.6M gain

    May 22, 2025

    Analyst Says Full-Blown Altseason Has Started, Outlines Path Forward for Dogecoin, Floki and Pepe

    May 23, 2025

    Crypto, NFTs are a lifeboat in the sinking fiat system: Finance Redefined

    May 23, 2025

    Ethereum price chart targets $4K as transaction fees hit 3-month high

    May 23, 2025

    XRP price fails to respond to two extremely bullish developments — Here is why

    May 22, 2025

    Trump’s use of presidential seal at memecoin event raises legal questions

    May 24, 2025

    DOGE, ADA, XRP News: Dogecoin, Cardano, Ripple Fall 7% in Weekend Bloodbath

    May 24, 2025

    US Seizes $868K in Crypto From Dating Scam That Drained Wallets

    May 24, 2025

    Raoul Pal Predicts $140,000+ Bitcoin by July, Says Key Metric Flashing Bullish Signal for BTC

    May 24, 2025
  • DeFi
  • NFT
  • Metaverse
  • Guides
  • Videos

    Dollar's Dying! Escape Now or Regret It! (Financial Warning)

    May 23, 2025

    “Do Not Be Fooled!” Kevin O’Leary Issues BIG Warning To Crypto Holders

    May 23, 2025

    Sui vs. Solana vs. Bitcoin: Crypto's Public Perception!

    May 23, 2025

    AI Gone Rogue: Snitching, Blackmailing, and Begging for Life!

    May 23, 2025

    Bitcoin Falling: New TRUMP Tariff Destroying Crypto Prices

    May 23, 2025
ApeWatcher News
Home » Top Analyst Explains Mechanics Behind Latest Altcoin Crash, Says Bears Took Over After Momentum Loss
Top Analyst Explains Mechanics Behind Latest Altcoin Crash, Says Bears Took Over After Momentum Loss
News

Top Analyst Explains Mechanics Behind Latest Altcoin Crash, Says Bears Took Over After Momentum Loss

The Daily HodlBy The Daily HodlApril 14, 20240 ViewsNo Comments
Share
Facebook Twitter LinkedIn Pinterest Email

A top analyst who nailed the end of the 2021 Bitcoin (BTC) bull market is detailing the mechanics behind the latest altcoin meltdown.

Pseudonymous crypto strategist Pentoshi tells his 779,400 followers on the social media platform X that momentum is what moves markets.

According to the analyst, the crypto markets were launching new altcoins at such a high rate that it depleted demand and allowed momentum to swing over to the other side.

“I think for the most part it was simple supply vs. demand dynamics.

We got to the point where there were a lot of new coins launching daily and each one needed more and more liquidity to support it. At one point, it needed around $200 million a day of new money inflows to support current prices

So supply overwhelms demand and because everyone is all in, there’s not enough passive bid and demand in the books or liquidity and we get these violent moves down.

We reached a point of balance and then the other team took over temporarily.”

TOTAL3, which traders use to track the value of the altcoin markets, dropped from its 2024 high of $788.85 billion to as low as $563.85 billion, representing a decrease of about 30%.

Even amid the marketwide correction, Pentoshi highlights that the crypto bull market is still intact.

“This isn’t the macro top, in my opinion, just a local one.

The bull market always ends when supply essentially becomes infinite and there’s nobody left to buy. We aren’t there yet in my, opinion. Good luck and happy pickings over the next few weeks.” 

Looking closer at TOTAL3, the widely followed analyst shares a chart suggesting it will hold support at around $600 billion before recovering and rallying to a $1 trillion valuation.

“All in all, I think this is the beginning of a great and new opportunity. What would change that is if BTC lost market structure or we had heavy BTC outflows from exchange-traded funds (ETFs). We’ve yet to see that, and it can happen. They go both ways.

For now, this is just one of a few 30%+ corrections we should have along the way if it’s anything like previous cycles.” 

At time of writing, TOTAL3 is trading at $620 billion.

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Featured Image: Shutterstock/Tithi Luadthong/klyaksun



Read the full article here

Follow us on Google News to get the latest Updates

 
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Trump’s use of presidential seal at memecoin event raises legal questions

May 24, 2025

DOGE, ADA, XRP News: Dogecoin, Cardano, Ripple Fall 7% in Weekend Bloodbath

May 24, 2025

US Seizes $868K in Crypto From Dating Scam That Drained Wallets

May 24, 2025

Raoul Pal Predicts $140,000+ Bitcoin by July, Says Key Metric Flashing Bullish Signal for BTC

May 24, 2025

Bitcoin (BTC) Price News: Crypto Bulls Lose $500M as BTC Hovers Around $108K After Trump’s Tariff Threats

May 24, 2025

Sandeep Nailwal Becomes Last Remaining Member of Polygon’s Founding Team as Bjelic Exits

May 24, 2025
Add A Comment
Leave A Reply Cancel Reply

Top Articles

Trump’s use of presidential seal at memecoin event raises legal questions

May 24, 2025

DOGE, ADA, XRP News: Dogecoin, Cardano, Ripple Fall 7% in Weekend Bloodbath

May 24, 2025

US Seizes $868K in Crypto From Dating Scam That Drained Wallets

May 24, 2025
ApeWatcher News
X (Twitter) Telegram
  • Privacy Policy
  • Sources
  • Terms and Conditions
  • Contact
  • Advertise
© 2025 Ape Watcher News

Type above and press Enter to search. Press Esc to cancel.