Most Altcoins in ‘Historic Position’ to Rally As Traders Realize Heavy Losses Over the Past Month: Santiment

Analytics firm Santiment predicts that most altcoins are positioned for a potential rally following a month-long crypto correction. The recent market pullback has led to many altcoin traders selling off their holdings and incurring significant losses. According to Santiment’s model, over 85% of the assets they track are in a historic opportunity zone, indicating heavy realized losses over one-month, three-month, and six-month cycles. This market value to realized value (MVRV) metric suggests that altcoins may be undervalued and primed for a rally. Santiment suggests that buying during this period of fear and market cap dips may be justified. Traders have been shifting their focus away from volatile altcoins like Dogecoin and towards crypto assets that have weathered the volatile conditions better. Santiment also notes that the total number of non-empty Bitcoin wallets continues to grow despite fluctuations in prices, while altcoin wallets for assets like Dogecoin have leveled off after significant increases earlier in the year. As of now, Dogecoin is trading at $0.149, down 34% from its 2024 high, while Bitcoin is valued at $64,000, a 13% decrease from its 2024 peak.