Altcoin Volume Surges Fourfold as Trader Seeks Profits and Warns of Overheating

The altcoin market has seen a significant surge in trading volume, reaching four times that of Bitcoin. This increase in activity has led some to warn of overheating and sparked a trader to take profits and reduce exposure.

According to Doctor Profit, he sold ONDO with a 73% profit and closed HBAR with a smaller gain. He is now betting on a Bitcoin correction, having previously pointed to a potential pullback toward $79,000 before the broader uptrend continues.

Darkfost also identified warning signs in the market, including a 45% increase in altcoin market cap since June and 87% of listed altcoins trading above their 200-day moving average on Binance. This has historically been difficult to sustain for long.