Cryptocurrency analytics firm Alphractal released a report on the cryptocurrency market, highlighting that many altcoins are still overbought despite recent gains. The report also indicated that a significant portion of these assets remain in bearish territory based on the daily Moving Average Convergence Divergence (MACD) indicator. Some altcoins, including KAITO, BERA, GNO, DEEP, AIOZ, IP, and FET, are experiencing overfunding rates and increased short interest. The report mentioned that Cardano recently experienced a "pump and dump" event, leading to short-term volatility and the formation of liquidation pools at various price points.



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