Old coins in uncertainty, while Bitcoin shows signs of strength

The crypto analysis company Alphractal has published new insights into the Altcoin market and highlighted Ray as the token with the highest long-to-short relationship among the most important old coins.

Other coins that have a strong tendency towards long positions are GTC, COS, DOT, Alpha, Melania, Audio and REZ.
The analysts warned that an unusually high long/short ratio does not always speak for price increases. In fact, it often contains performance, although in some cases it can trigger a reversal if there is a short squeeze.

However, Alphractal pointed out that a significant increase in open interests would be necessary for a real squeeze scenario-something that cannot currently be observed. Therefore, you expect old coin prices to tend sideways in the near future.

Meanwhile, Alphractal's CEO Joao Wedson pointed out a bullish signal at Binance. He referred to the Bitcoin/Stablecoin reserve quota, which is moving within a range of $ 76,000 to $ 77,000-a pattern that was preceded by large Bitcoin rally, especially after the Covid Crash 2020 and again at the end of 2022.

Wedson said that rising stable coin reserves in relation to the Bitcoin stocks indicate that fresh capital is willing to flow into the market, which could possibly create the requirements for another upswing.

Despite the cautious tones in relation to old coins, Alphractal's report indicates that the general market conditions could change soon if Bitcoin leads another rally. Analysts found that strong Bitcoin dynamics often withdraw liquidity back into more risky systems, which means that every significant break from Bitcoin could ultimately also breathe new life into the old coin markets.