As the volatile week in the crypto market approaches, fresh data highlights five altcoins to watch. Binance's net flow data emphasizes significant outflows in Fetch.ai (FET), Amp (AMP), and Synthetix (SNX).
Altcoin Flow Data
According to a report from CryptoQuant, Binance's latest altcoin net flow data indicates notable outflows of FET, AMP, SNX, 0x (ZRX), and Ankr (ANKR) from the crypto exchange. This metric often signifies growing investor confidence and potential bullish momentum.
Altseason Prospects
Currently, the Altseason Index sits at 65, indicating strength but still far from the blow-off 90+ readings seen at true peaks. Bitcoin dominance has also broken its three-year uptrend, historically a precursor to capital rotating into altcoins. According to pseudonymous crypto analyst Ash Crypto, current capital rotations could trigger a 'Mega Altseason' between October and March, with significant capital flow into altcoins.
General Conclusions
Changes in exchange flows for altcoins are directly linked to larger market cycles that many analysts believe remain incomplete. Altcoins FET, AMP, and SNX stand out for their pronounced outflows, making them the primary candidates for observation in the upcoming active trading week.
In the context of a potentially volatile week in the crypto market, FET, AMP, and SNX are of interest to investors. They are becoming the focus due to significant asset movements that may indicate future price increases.
