look for opportunities to buy in at lower prices. Santiment’s MVRV metric, which measures the difference between the current price and the average price at which coins last moved on-chain, suggests that most altcoins are currently underbought.
This presents a buying opportunity for investors looking to capitalize on the dip in prices. However, analysts warn that a new leg down could push some of these tokens into a danger zone, so caution is advised.
The decline in crypto prices comes as global stock markets also experience weakness, with fears of inflation and rising bond yields causing investors to pull back from riskier assets.
Despite the current market turbulence, many analysts remain bullish on the long-term prospects of cryptocurrencies. The increasing adoption of blockchain technology and the growing interest from institutional investors are seen as positive signs for the future of the industry.
As always, investors are advised to do their own research and exercise caution when investing in cryptocurrencies, as the market remains highly volatile and unpredictable.
