A prominent market analyst is increasing alarms that the current increase between Altcoins is a deliberate configuration, a final distribution act in the face of a possible macroeconomic storm.
With critical inflation data and a Federal Reserve meeting on the horizon, it is labeling the rally as a sophisticated trap for exaggerated retail investors.
Get out of the pump as Macro events progress
In a detailed publication about X, the analyst Doctor Profit issued a warning marked to its almost 432,000 followers, which attracted a parallel to a precise bassist call that had made a month ago.
“I explicitly noticed that market manufacturers would push higher altcoins in the following days and weeks to create a perfect illusion for retail trade,” said the analyst.
He explained that the strategy uses attractive price increases such as a distraction during a distribution phase in the upper market. In addition, he argued that the current impulse is not the beginning of a sustained ‘high season, but a “short -term output bomb” where retail investors involuntarily provide liquidity so that the largest players sell.
“What we are seeing now is that: an Altcoin manufactured rally designed to catch late buyers, while real money comes silently.”
According to him, retail merchants are blindly buying from the ALT for fear of getting lost, while ignoring macro risks such as the PPI due on Wednesday, the IPC on Thursday and the FOMC meeting, which only passes eight days.
His warning comes at a time when public opinion is still divided. Recently, the Cryptoquant analysis platform pointed out that coins such as Fetch.ai (FET), AMP (AMP) and Synthetix (SNX) left Binance, which means that some investors believe they could earn money in the short term of those tokens.
On the other hand, analysts such as Ash Crypto have said that if Bitcoin’s domain begins to fade, a “mega alternative season” between October and March of next year could begin, with a lot of money moving forward in Altcoins.
However, the data of the past tell a different story. At the beginning of the month, the founder of the introvecrytoteverse Benjamin Cowen said that BTC domains is probable independently of the way the price of cryptocurrency is going. He warned that Altcoins will have difficulty staying up to date with Bitcoin if he goes up, down or remains around the key mobile averages.
Bitcoin remains stable
Even with the noise around Altcoins, Bitcoin continues to anchor the market. At the time of writing this article, the OG Crypto had earned 1.5% in the last 24 hours and 2.5% during the week, which raised its price at $ 113,167.
Despite the modest increase, the asset has still dropped 4.2% in the last 30 days, and almost 9% below its peak of $ 124,457. During the last day, the negotiation volume was more than $ 42 billion, which shows that there is still a lot of liquidity even when the speculation about Altcoins is heated.
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