Notcoin (NOT) Price Posts Brief 35% Rally After Bidding Bitcoin Farewell
BeInCrypto
Notcoin (NOT) experienced a sharp 36% rally followed by heavy selling, coinciding with its correlation with Bitcoin weakening significantly.Summary
Notcoin (NOT) price surged nearly 36% in 24 hours due to sudden bullish speculation, but this rally was short-lived, triggering the heaviest selling pressure in six months.
The correlation between NOT and Bitcoin has dropped to 0.43, indicating that NOT is decoupling from BTC's price movements, which could shield it from Bitcoin's volatility but also expose it to liquidity drains if BTC rebounds strongly.
Technical indicators like the Chaikin Money Flow (CMF) confirm heavy outflows as investors took profits, pushing the price down from its peak of $0.000750 to $0.000615. NOT faces a potential drop toward $0.000552 if it loses the $0.000609 support level, especially if Bitcoin recovers.
(Source：BeInCrypto)