The current market situation is quite curious: some are already bracing for another sharp correction, while others believe we are simply shaking out "weak hands" before the next leg up. Both sides have valid arguments.
Here’s what the data tells us:
⏺The altcoin market is gradually showing signs of life. The share of coins in profit has climbed from 3% to 23% over the last six weeks—the sharpest jump in over a year. While a full recovery is still a long way off—and most holders remain in the red—the momentum has clearly improved.
🟡 On the other hand, ETFs continue to see outflows. In October, more than $1 billion left BTC and ETH ETFs; for Ethereum, it was the worst month for fund flows in 2024. This indicates that selling pressure from some large-scale capital remains very much present.
🟡 Meanwhile, new buyers have accumulated approximately 570,000 BTC since the end of July. Their average cost basis sits around $75,000—a level that continues to act as a key support zone during pullbacks.
🚬It’s an intriguing picture: some are taking profits and exiting, while others are building positions at these same levels. The big question is—are we witnessing the start of another downward wave, or just a routine shakeout of weak hands before the trend resumes?
And for those who love drawing patterns on charts 😭:
Some have already spotted a classic "cup and handle" formation on the weekly BTC chart. If you "follow the technical analysis textbook," the potential target could be as high as $240,000. So, for the die-hard pattern enthusiasts, the future of the market is apparently already a "done deal."
⚠️Of course, a single chart pattern guarantees nothing. Overall, the market is currently at an interesting juncture: while pressure persists, signs of accumulation and recovery are becoming increasingly apparent.
🤴ByBit:
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🤴BingX:
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🕵️♂️Recent weeks look less and less like a "total crypto winter." Here’s what’s interesting right now:
⏺Altcoin inflows to exchanges have hit a high not seen since October 2025. It appears some participants are already starting to lock in profits following the recent price action. Rising exchange inflows generally signal a likely short-term pullback rather than endless, uninterrupted growth.
⏺However, the current situation differs from last October. Back then, similar dynamics preceded a major correction, whereas the market is now in a stronger phase. Consequently, a scenario involving a moderate correction or sideways movement seems more logical than another total crash.
⏺Ethereum is heading toward its best third quarter in history. Q3 returns are currently around +71%, with only a few days left in the quarter. The king of altcoins is finally reminding us why the term "altseason" exists. 😭
⏺Open interest in perpetual futures has risen to approximately $160 billion—an 11-month high.
This is a positive sign of returning market interest and capital, but it also serves as a reminder: the more leverage builds up in the system, the higher the risk of sharp price swings and cascading liquidations.
😊The outlook is promising: interest is returning, ETH is showing strength, and more capital is entering the market—though speculative pressure is also gradually rising. So, let's avoid euphoria; short-term corrections are perfectly normal right now.
🤴ByBit:
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🤴BingX:
Code in the app:📱(PQLLZA)
💪Kraken:
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