Following intense market fluctuations in the crypto market ahead of the Federal Open Market Committee (FOMC) meeting, 6 altcoins are facing the risk of a price drop. Based on data provided by Santiment, whale deposits of World Coin (WLD), Movement (MOVE), Maker (MKR), Wrapped Ether (stETH), Om (OM), and Reserve Rights (RSR) to exchanges have significantly increased, causing concerns for traders. Whale deposits of these tokens to exchanges may negatively impact their price trend, as per the law of supply and demand indicating a potential decrease in prices. However, after the recent FOMC meeting announcement of a steady interest rate, digital asset prices have shown signs of recovery today. Bitcoin price has returned to the $105,000 channel, and altcoins are also following an upward trend. Overall, most of the mentioned tokens’ prices are currently increasing daily. Yet, the long-term price outlook of these tokens remains uncertain due to the significant increase in whale deposits to exchanges, reflecting a loss of market confidence in these assets. Moreover, it is worth mentioning that Donald Trump’s DeFi project, World Liberty Financial, recently acquired 2.4 million MOVE tokens, sparking further speculations in the market.
