Altcoin rally is coming, CryptoQuant CEO says

Ki Young Ju reported a significant increase in limit buy orders for altcoins, signaling a potential rally.

This increase suggests that investors are forming strong buy walls for altcoins excluding Bitcoin (BTC) and Ethereum (ETH), which is likely due to the anticipation of an impending rally in altcoins.

“Whales are preparing for the next altcoin rally,” Ju wrote on X.

An increase in limit order volume indicates strong buying interest, which usually precedes market uptrends. For those who don’t know, limit orders create “bid volume” on exchanges, while market orders create “buyer volume.”

Whales and institutions such as market makers and brokers often use limit orders on large trades to minimize slippage.

Altcoins soar as Bitcoin soars

During an altcoin rally, the prices of alternative cryptocurrencies experience significant increases. This increase is usually driven by positive market sentiment, increased trading volumes, and a shift in investor focus from Bitcoin to altcoins.

Factors such as Bitcoin price movements, fear of missing out, and market speculation play a major role in an altcoin rally. When the price of Bitcoin rises, profits usually flow into altcoins, further increasing their prices.

Limit order indicators are calculated by adding the difference between the buy and sell quote volumes over a one-year moving window. An uptrend means an increase in the quote buy volume, which indicates the formation of strong buy walls. This pattern indicates a potential bullish movement in the altcoin market.