The Crypto Bull Market Isn’t Over: None of the 30 Sell Signals Have Flashed, Buy These Coins Instead

The crypto market is facing significant selling pressure as investors derisk ahead of Friday’s Jackson Hole event, where Fed Chair Jerome Powell is expected to signal the central bank’s policy outlook, including guidance on the September FOMC decision.

The Bitcoin price fell to $112,500 on Tuesday, down nearly 8% from last week’s all-time high. Meanwhile, Ethereum dipped below $4,100. Cardano and XRP suffered the heaviest losses among the large-cap cryptos, while Solana meme coins like PUMP, Fartcoin, SPX6900 and Bonk are the biggest losers over the past week. 

However, the data analytics platform CoinGlass has provided strong evidence that the crypto bull market isn’t over, and that the ongoing crash is just a healthy pullback before the next leg up. 

Notably, none of the 30 cycle-top sell signals have flashed yet, indicating that most cryptocurrencies still have significant upside potential. 

Zero Out of Thirty Cycle Top Signals Have Flashed

CoinGlass keeps a track of thirty “Bull Market Peak Indicators”. These are indicators that historically flashed at previous cycle tops, each time preceding major market reversals and prolonged corrections.

As of press time, none of the 30 sell signals have flashed. In fact, their individual progress index shows that most of these indicators are still far from triggering, underscoring that the market has not yet reached a cycle top.

For instance, the Bitcoin Bubble Index has advanced only 17%, while the Bitcoin AHR999x Top Escape Indicator is still below 16%. In fact, only 5 of the 30 indicators have progressed by more than 80% and only one by more than 90%. 

CoinGlass’s dashboard includes all the important cycle top indicators. For instance, the Pi Cycle Top Indicator, Puell Multiple and the Bitcoin Rainbow Chart are widely used by analysts to evaluate if they need to take profits on the BTC holdings. 

Similarly, the MVRV Z-Score indicates how far Bitcoin’s market value has deviated from its realized value, helping identify periods of extreme overvaluation or undervaluation relative to historical norms. Currently, it stands at just 2.42, significantly below the 5 level, which typically comes at cycle tops. 

The Altcoin Season Index is still at 51, considerably lower than the 75 mark, which is when holders should consider selling their altcoin holdings. 

Simply put, most cryptocurrencies still have significant upside, despite the ongoing market-wide pullback. 

Best Cryptos To Buy The Dip

Sidelined investors should get ready to buy the dip in large-cap crypto assets. 

Experts highlight $111,000 as the key support level for Bitcoin, while $4000 is an excellent price to accumulate more Ethereum. Similarly, Ali Martinez highlights that the Tom DeMark indicator is flashing buy signals in XRP and Sei. 

However, buyers shouldn’t invest all their capital in one go. September has typically been one of the worst months for the crypto market, and the possibility of more downside volatility should be considered. 

Meanwhile, smart money investors also continue to invest in low-cap coins that don’t show correlation with the broader market outlook. 

For instance, Bitcoin Hyper (HYPER) has now raised nearly $11 million in its presale, thanks to a series of six-figure investments from whales. 

Investors are betting that HYPER will be one of the best beta plays on Bitcoin, just like most layer-2 coins are for their respective layer-1s. Considering that BTC is expected to hit $150,000 and more this year, Bitcoin Hyper is an excellent bet for outsized returns. 

Popular crypto influencers are also hyped about this new BTC layer-2 project, with many viewing it as one of the best cryptos to buy today. 

Similarly, TOKEN6900 is a low-cap meme coin that is becoming very popular among crypto degens. 

Those that missed out on SPX6900, Fartcoin and Useless Coin are viewing TOKEN6900 as their shot at big money in this bull run. 

T6900 is a proud zero-utility coin. It doesn’t care about corporate earnings, macro data or the broader market outlook. Instead, it taps into the 2000s nostalgia, the internet meme culture and community support.

Unsurprisingly, whales are stacking this new coin early, with one buying $100k worth of this coin in a single transaction. Much like HYPER, investors are eyeing up to 100x returns from it.

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