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Crypto markets are showing a split between “capital preservation” and “deep-value hunting,” with wealthy investors concentrating fresh buys in major assets such as Bitcoin (BTC), Ethereum (ETH) and XRP (XRP), while some smaller altcoins show extreme oversold signals on the Relative Strength Index (RSI).
In 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%, while XRP (XRP/KRW) ranked near the top at 70%.
Solana (SOL/KRW) posted a 49% share, and Ethereum Classic (ETC/KRW) came in at 36%. The overall lineup is heavily weighted toward large-cap, highly liquid tokens, suggesting that even amid choppy price action, wealthy participants are favoring assets viewed as more resilient and easier to enter or exit with less slippage.
At the same time, technical screens highlighted steep declines in select altcoins. Around 11:59 a.m. KST (10:59 p.m. ET on Thursday), several tokens moved into extreme RSI territory:
RSI is a 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 and can sometimes precede short-term rebounds. However, market participants typically treat RSI as a secondary signal, weighing it alongside volume trends, volatility conditions and broader risk sentiment before drawing conclusions.
The combined picture points to a market increasingly defined by a “major-asset preference” at the top of the risk curve, while pockets of smaller tokens experience outsized declines that may attract speculative interest. Whether the oversold readings translate into sustained recoveries will likely depend on liquidity returning to the broader altcoin complex and stabilization in overall market volatility.
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