Encryption Venture Capitalist says the market may be close to the local floor, referring to negative funding rates and extensive weaknesses, saying, “Often the best signal.”
Felix Hartmann, the founder of Hartmann Capital, said in a February 8 X post, “It may be early, but it feels like we’re near the floor.
Funding rates and emotions are two large indicators.
Hartmann said that the cryptocurrency rate, which helps to maintain the trading fair by adjusting the futures and market prices, means that there are more sellers than the buyer, which is “negative for a while.”
Continuous negative funding rate can be seen in the weakness of the weakness among merchants, suggesting the market floor and the possibility of short -term rebound.
Hartmann also returned to the long -term trend line, and in the fourth quarter of 2024, most of the profits were “wiped out.”
In December 2024, Ether (ETH) traded more than $ 4,000 and speculated that it could resume $ 4,878 in November 2021. But the assets withdrew to $ 2,639 later.
The ether is traded for $ 2,639 at the time of publication. source: Coinmarketcap
Solana (SOL) reached a new all -time high of $ 295 on January 19, but withdrew from $ 201.15 at the time of publication.
Meanwhile, Memecoin’s total market cap decreased by 32.38% by the end of December 2024.
Encryption analyst Matthew Hyland said that the market will no longer see the highest in December in most ALTS for two months.
VC says market shopping can be at ‘tail ends’.
Hartmann said that the overall encryption sentiment is “absolutely wrecked” and is “often the best signal.” The encryption horror and greed index, which measures the overall cryptographic market sentiment, reads the “fear” score of 46 points, which decreased from 14 points to 14 points last week.
Mike Alfred, a crypto analyst, reflected a similar view, and on January 21, the encryption market’s “terrible” sentiment was “the emotion of the previous rally.”
Matt Hougan, the chief investor in Bitwise, said, “The retail feelings are the worst for years.”
relevant: The encryption market has lost all the logic that it is very confusing.
But HOUGAN said professional investors were “very optimistic,” and “large -scale connections were cut off.”
Hartmann said that the encryption market could continue to be “Chop”, but the most unlocked venture capital token allocation was already “abandoned in the second quarter.”
In March and October 2024, Token Unlocks announced a $ 35 billion assets, which significantly increased the market supply.
magazine: Trump’s encryption venture raises conflicts of understanding, internal rich trading questions.