Altcoins have been performing poorly this week, with a significant decline in leverage. Analysts note that long bets have been rewarded since the election, leading to a steady accumulation of open interest in altcoins. However, Monday saw the largest daily long liquidation event since May 2021, causing altcoin leverage to decrease. BitOoda analysts predict sideways trading with low liquidity and choppy price action leading up to the end of the year. Despite this setback, the overall bullish outlook for 2025 remains unchanged. There is still the possibility of a Santa rally in the crypto market.
- Content Editor ( blockworks.co )
- 2024-12-11
Santa rally? Altcoins could use a Christmas miracle