Buy The Dip: Santiment Unveils Top Altcoins To Buy Following Bitcoin Price Crash Below $62k

The post Buy The Dip: Santiment Unveils Top Altcoins To Buy Following Bitcoin Price Crash Below $62k appeared first on Coinpedia Fintech News

After shedding more than 6 percent in the past 24 hours, the total cryptocurrency market capitalization stabilized at around $2.44 trillion on Wednesday. The healthy crypto market correction has presented several opportunities for investors to buy the dips, led by Bitcoin (BTC) and Ethereum (ETH). 

However, depending on today’s interest rate data from the United States Fed, the cryptocurrency market could continue to experience further losses in the coming days. From a technical perspective, Bitcoin price could drop to the following support range between $56,251 and $60,279, which coincides with the 0.5 and 0.382 Fibonacci Retracement. 

Top Altcoins to Keep an Eye On

Following #Bitcoin's drop to a 2-week low of $61.7K Tuesday, the @santimentfeed MVRV Opportunity & Danger Zone Model indicates that several #altcoins have finally dropped enough for mid-term trading returns to be in an #opportunity zone. This zone gets breached when an asset's… pic.twitter.com/LAJxDtc1kp

— Santiment (@santimentfeed) March 20, 2024

With Bitcoin’s price dropping to a two-week low of below $62k on Tuesday, the on-chain intelligence platform Santiment noted that some altcoins presented a potential bullish opportunity. Using the Market Value to Realized Value (MVRV) Opportunity and Danger Zone Model, Santiment highlighted that several altcoins have dropped enough to be in the opportunity zone.

Some of the altcoins in the opportunity zone include Lido DAO (LDO), OMG Network (OMG), Storj (STORJ), Synthetix Network (SNX), and $BOUNCE.

“In a zero-sum game like crypto, projects with minimal returns compared to the rest of the sector have a higher probability of a more efficient rebound for those willing to buy the dip on projects traders are in the most pain on,” Santiment noted. 

Time to Get Aggressively Bullish on Altcoins

BlackRock just put $100 MILLION on $ETH

This is the most bullish news possible for Ethereum, and the price is $3,170!

HIGHER!!! pic.twitter.com/o1GPPl1Nbj

— borovik.eth (@3orovik) March 19, 2024

After registering historical success on its spot Bitcoin ETF, BlackRock is now focused on offering Ethereum-based products to its clients. According to on-chain data, BlackRock recently tokenized $100 million on the Ethereum network despite the ongoing market correction.