Glassnode co-founder: The altcoin market value index holds key support levels, potentially indicating the start of a new round of rising trends
According to an analysis by Negentropic, co-founder of Glassnode, in the recent market adjustment, the total market value index (Total 3) of altcoins excluding ETH successfully held key support levels, with multiple altcoins showing signs of final sell-offs.
With Bitcoin's market value reaching a 4-year high, the maintenance of the Total 3 index trend indicates that off-market funds are continuously accumulating. This may signal that a new round of uptrends is about to start in the altcoin market.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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