If markets crash in general, especially altcoins will go down also. However, it is more likely this will be a bear trap as institutions and whales are buying heavily.
“Technical expert Tony Severino has warned that the Bitcoin and altcoins Fischer Transform indicator has flipped bearish for the first time since 2021. The analyst also revealed the implications of this development and how exactly it could impact these crypto assets.
Bitcoin And Altcoins Fischer Transform Indicator Turns Bearish
In an X post, Severino revealed that the total crypto market cap 12-week Fisher Transform has flipped bearish for the first time since December 2021. Before then, the indicator had flipped bearish in January 2018. In 2021 and 2018, the total crypto market cap dropped 66% and 82%, respectively. This provides a bearish outlook for Bitcoin and altcoins, suggesting they could suffer a massive crash soon enough.”
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A US recession is incoming, prompting the Fed to move from tightening to easing and injecting liquidity.