{"id":137871,"date":"2024-09-25T12:30:14","date_gmt":"2024-09-25T09:30:14","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=137871"},"modified":"2024-09-25T02:00:48","modified_gmt":"2024-09-24T23:00:48","slug":"signs-of-an-altcoin-correction-emerge-according-to-bitfinex-insights","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/signs-of-an-altcoin-correction-emerge-according-to-bitfinex-insights\/","title":{"rendered":"Signs of an Altcoin Correction Emerge, According to Bitfinex Insights"},"content":{"rendered":"<p>According to Bitfinex\u2019s latest Alpha <a href=\"https:\/\/blog.bitfinex.com\/wp-content\/uploads\/2024\/09\/Bitfinex-Alpha-123-1.pdf\" target=\"_blank\" rel=\"nofollow\"><strong>report<\/strong><\/a>, a decline in OI has contributed to significant rallies for various altcoins, including <strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/sui\/\">SUI<\/a> <\/strong>and <strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/aave\/\">AAVE<\/a><\/strong>.<\/p>\n<p>The report suggests that an increasing risk appetite and easier movement of altcoins, thanks to the decrease in OI, have played a role in SUI and AAVE soaring by 100% since their lows in August and September.<\/p>\n<p>However, there is a notable concern: OI has reached a new high of $11.48 billion, surpassing the previous peak of $10.74 billion on August 19. This increase occurs even as the OTHERS index\u2014which tracks altcoins outside the top 10 by market cap\u2014has failed to hit new highs.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/here-are-the-main-reasons-why-solana-could-keep-surging\/\" title=\"Here Are the Main Reasons Why Solana Could Keep Surging\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2024\/01\/image1-1-240x170.webp\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">Here Are the Main Reasons Why Solana Could Keep Surging<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>With Bitcoin (<strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/bitcoin\/\">BTC<\/a><\/strong>) at the forefront of a market-wide surge, Bitfinex cautions that a consolidation phase may be imminent following a failed attempt to break through the $65,000 barrier.<\/p>\n<p>The report advises a cautious strategy after BTC\u2019s impressive 22% increase. It is now plausible for the price to establish a new trading range and consolidate for a while, mirroring patterns seen after similar prior rallies sparked by spot purchases, which were later followed by activity in perpetual and futures markets.<\/p>\n<p>Consequently, Bitfinex foresees a \u201ccorrection\u201d in the altcoin market, referring specifically to those outside the top 10 by market capitalization.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A leading crypto exchange\u2019s research division is alerting traders to monitor open interest (OI) while dealing with altcoins.<\/p>\n","protected":false},"author":3,"featured_media":78982,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[24],"tags":[],"class_list":["post-137871","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoins"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Signs of an Altcoin Correction Emerge, According to Bitfinex Insights<\/title>\n<meta name=\"description\" content=\"A leading crypto exchange\u2019s research division is alerting traders to monitor open interest (OI) while dealing with altcoins.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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