Analyst says altcoin rally that began in late August is fading

The altcoin rally that ran from late August to early October is ending quickly, according to an analysis by on-chain analyst Darkfost. Darkfost said more than $814 billion flowed into the altcoin market during that period, supporting the uptrend. More than 90% of altcoins listed on Binance were trading above their 200-day moving averages, but more than $134 billion has flowed back out over the past 15 days amid short-term profit-taking. Darkfost added that while the altcoin market shifts quickly, periods of weak market interest have at times been worth considering for increasing exposure.

Source: Coinness