Crypto Market Dips, But Santiment Data Reveals Undervalued Altcoins
- Bitcoin retests $60K after a brief surge, but market analysts remain bullish.
- Santiment identifies BAT, CHR, and HIGH as undervalued altcoins.
- The report suggests that investors may want to wait for a better time to invest in ENS, OM, and RSR.
The crypto market has endured weeks of bearish volatility, with Bitcoin (BTC) recently falling back to the $60,000 level after a brief rally to $63,000.
However, market watchers remain optimistic, encouraging investors to accumulate during this period of lower prices. Market intelligence platform Santiment reports that many altcoins are undervalued and poised for a rebound.
— Santiment (@santimentfeed) July 3, 2024
According to mid-term average returns of each wallet across nearly all altcoins, traders are well under water. The @santimentfeed Mean Value to Realized Value (MVRV) model shows mathematically viable entry points for BAT, CHR, and HIGH. Meanwhile, ENS, OM, and RSR are projects… pic.twitter.com/3fMz2hqspN
Santiment’s analysis of mid-term average returns across altcoin wallets reveals that traders are currently experiencing substantial losses. However, this indicator suggests that altcoins are in “pri…
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