The post Possibility of Accumulating Altcoins Amid Bitcoin’s Ongoing Correction appeared on BitcoinEthereumNews.com.

As Bitcoin experiences a correction, many investors are questioning whether now is the right time to buy the dip in the cryptocurrency market. With mid and small-cap altcoins showing potential due to historical trends favoring rebounds after downturns, this moment may present unique buying opportunities. According to a COINOTAG report, “the best time to invest often occurs when pessimism overshadows market sentiments.” The recent Bitcoin correction presents unique opportunities for long-term investors to capitalize on undervalued altcoins amidst growing market anxieties. Bitcoin’s Market Correction: An Analysis At the time of writing, Bitcoin was trading at $86,047, reflecting a slight decline of 0.25% for the day. This correction followed a rejection at the prominent $92,000 level, leading to consecutive lower highs that indicate a weakening of bullish momentum. The Relative Strength Index (RSI) stood at 40.54, suggesting that Bitcoin is nearing oversold territory, which may signal a potential reversal in price. Furthermore, the On-Balance Volume (OBV) exhibited a downward trend, indicating decreased buying pressure alongside waning investor confidence. Source: TradingView If Bitcoin fails to maintain its current support, predictions indicate potential further declines towards the $80,000-$82,000 range. However, historical price cycles suggest that such corrections may represent prime accumulation zones before the market resumes its upward trajectory. The Struggles of Mid and Small-Cap Altcoins In the wake of Bitcoin’s recent correction, mid and small-cap altcoins have faced significant declines, resulting in a negative market cap growth rate of -1%. This downturn has primarily been attributed to capital being redirected toward larger assets, particularly Bitcoin, during this risk-off environment. Source: Cryptoquant The disparity between the 365-day and 30-day moving averages further emphasizes this trend, highlighting small-cap altcoins’ difficulty in maintaining momentum. Historically, periods marked by such conditions have led to prolonged stagnation, resulting in delayed recoveries relative to Bitcoin. For short-term traders,…

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Filed under: News - @ March 9, 2025 9:09 am