Knotcoin’s price has risen nearly 36% in the past 24 hours as the Telegram-based token soared on sudden bullish speculation.
However, this rise did not translate into sustained momentum. Instead, the most intense sell-off in six months occurred.
Notcoin moves away from Bitcoin
The correlation between Notcoin and Bitcoin has weakened significantly, dropping to 0.43. This rapid decline indicates that NOT is no longer closely following Bitcoin price fluctuations. If BTC continues its volatility or records further declines, such a separation could be advantageous as NOT could avoid direct downside pressure.
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However, new risks also arise. A strong rebound in Bitcoin may take liquidity away from small speculative assets and may not allow it to fall even if internal sentiment is neutral.
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The Chaikin Money Flow Indicator has shown a sharp decline in the past 24 hours, confirming a large amount of capital outflow. The indicator has moved deeper into negative territory, indicating that investors exited positions quickly after the rally. Many were likely sold to lock in profits or reduce exposure, contributing to the sharp decline.
This selling pressure weakens the bullish impulse that initially caused NOT to soar. If outflows continue at this pace, recovery attempts could be limited in the short term. Knotcoin will require new accumulation and stability in the broader market to offset its impact.
Prices don’t skyrocket
NOT price reached an intraday high of $0.000750 and has since fallen to $0.000615 at the time of writing. This rapid correction reflects cooling sentiment and is consistent with outflow signals seen in market indicators.
NOT may struggle if Bitcoin starts to recover. A rebound in BTC will often direct liquidity towards larger, less volatile assets, so it may not break below its support at $0.000609. Losing this level could cause the token to fall towards $0.000552.
Conversely, if Bitcoin falls again and investors do not regain confidence, the altcoin could find support at $0.000609. A successful bounce from this level could send the price higher towards $0.000723, giving it a chance to invalidate the bearish outlook.
