🐳 Fantom, Immutable X, and Basic Attention Token all have had major spikes in whale activity over the past day and a half following the Fed's interest rate cuts.

This suggests that these altcoins can thrive, with the assumption Bitcoin and crypto markets continue their growth.

📊 Despite Bitcoin's slight dip ($57.3K) and Ethereum's bigger dip ($2.3K) over the past week, altcoins have begun to rally once again. Crowd FUD has played a big factor in many of these projects rebounding with little resistance. Top weekly performers include:

📈 Fellaz $FLZ +23%
📈 Fantom $FTM +21%
📈 Fetch $FET +20%
📈 Dfinity $ICP +15%
📈 Sui $SUI +15%
📈 Optimism $OP +15%
📈 Toncoin $TON +15%

🧐 When selecting altcoins, pay attention to those being bet against (shorted) by other crypto traders. When funding rates on large exchanges get heavily in negative range, like we see with Chiliz, Fantom, and Cardano, there are increased chances of liquidations leading to pumps.

😮 #Bitcoin's $68.6K #AllTimeHigh is within 0.9% of its current $68.0K market value. Though there seems to be a high ratio of traders who expect this value to be exceeded shortly, the overall sentiment is much closer to neutral than previous #bullcycle data.

Unlike the many #memecoins and other surging #altcoins that have recently pumped, $BTC's neutral sentiment is actually a strong side that a rally can keep momentum. With a fair amount of disbelief, shorts can get liquidated and continue to fuel a rally past $70K and beyond.

It is best to assess how sentiment may shift WHEN the seemingly inevitable #ATH hits, as sudden shifts in crowd perceptions can change wildly after any major resistance level is breached.

Note that markets typically move the opposite direction of traders' expectations. Monitor Santiment's data-backed crowd sentiment for Bitcoin and other trending tokens here.

🎭 #Fantom has quietly enjoyed a mini bounce the past 3 days while the $FTM crowd has stayed relatively quiet. However, behind the #onchain curtains, what may be contributing is the huge surge of whale wallet coins moving off exchanges and into non-exchange wallets (potentially a mix of self custody, defi, and staking).

There was a massive flip of coins on #XmasDay, and this trend has only gained momentum. As long as the outflow trend from major exchange wallets, there is theoretically a #bullish argument that should continue to develop and imply a larger bounce could be around the corner.

Note the top 15 wallets on #Fantom, below in the screenshot, according to FTMScan, as they are unique in nature. Specifically, the SFC wallet holding 82.5% of the supply, #WrappedFinance wallet holding 6.2%, and foundation wallet holding 4.0%. These special wallets that have particularly large impacts.

Explore the chart on Santiment!

As altcoins have enjoyed another major burst as markets creep toward Christmas Eve weekend, our latest video explores the top trending tokens and the context behind them. We touch on social media's sudden hype behind $RAY, $CAKE, $FTM, and how you can profit from others' greed and FOMO!