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Crypto markets are showing a clear split between ‘capital preservation’ and ‘deep-value hunting’: wealthy investors are concentrating fresh buys in major assets such as Bitcoin (BTC), Ethereum (ETH), and XRP (XRP), while a handful of smaller altcoins are flashing extreme ‘oversold’ signals on the Relative Strength Index (RSI).
According to a snapshot of high-net-worth investors’ positioning compiled as of Friday ET (April 24), Bitcoin (BTC/KRW) accounted for the largest share of recent buying activity at 83%. Ethereum (ETH/KRW) followed at 80%, with XRP (XRP/KRW) also ranking near the top at 70%.
Behind the leaders, Solana (SOL/KRW) posted a 49% share, while Ethereum Classic (ETC/KRW) came in at 36%. The line-up is heavily skewed toward large-cap, highly liquid tokens—an indication that, even amid choppy price action, wealthy participants are sticking to assets perceived as more resilient and easier to enter or exit without significant slippage.
At the same time, technical screens are highlighting sharp drawdowns in select altcoins. Around 11:59 a.m. KST (10:59 p.m. ET on Thursday), several tokens slipped into extreme RSI territory. Sign (SIGN/KRW) posted an RSI of 5.11 with a -0.94% move on the day. Falcon Finance (FF/KRW) registered an RSI of 15.00 (-1.82%), while Orchid (OXT/KRW) stood at 16.34 (-1.05%). Camp Network (CAMP/KRW) showed an RSI of 18.57 with a flat daily return, and Phala Network (PHA/KRW) recorded 19.96 (-0.48%).
RSI is a widely used momentum indicator that compares the magnitude of recent gains and losses to gauge whether an asset is ‘overbought’ or ‘oversold.’ Readings below 30 are commonly interpreted as oversold, sometimes fueling expectations of a short-term rebound. However, market participants often treat RSI as a secondary tool, weighing it alongside volume trends, volatility conditions, and broader risk sentiment before drawing conclusions.
The combined picture suggests a market increasingly defined by ‘major-asset preference’ at the top of the risk curve, while pockets of smaller tokens experience outsized declines that may attract speculative interest. Whether those oversold readings translate into sustained recoveries will likely depend on liquidity returning to the altcoin complex and a stabilization in overall market volatility.
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🔎 Market Interpretation