Deep Dive
1. Broader Market Sell-Off Spillover
Bitcoin dropped 3.2% in 24h, dragging most altcoins lower. The sell-off was fueled by sustained institutional caution, with U.S. spot Bitcoin ETFs seeing nearly $3.8 billion in outflows over five weeks, and renewed macro uncertainty from U.S. tariff policy.
What it means: AVNT moved with the market (high beta), lacking a specific catalyst to decouple from the dominant macro-driven risk-off flow.
Watch for: A stabilization in Bitcoin price and a reversal to positive ETF flows, which would relieve pressure on altcoins.
2. Altcoin Sector Weakness & Technical Breakdown
The CMC Altcoin Season Index sits at 31, signaling weak momentum. Social data shows AVNT among several coins that reached new all-time lows on February 23. Its 24h trading volume surged over 60%, confirming the sell-off.
What it means: The move reflects a sector-wide de-risking, not an AVNT-specific issue. The new low erodes technical support, inviting further selling.
Watch for: Whether other major altcoins like SOL or APT find a bid, which could help stem the sector's bleed.
3. Near-term Market Outlook
The immediate trigger is Bitcoin's stability. If BTC holds above $64,000 support, AVNT may range between $0.17 and $0.19. However, continued ETF outflows and a break below $0.17 could see the price test the next psychological support near $0.15.
What it means: The trend is bearish, contingent on macro sentiment and Bitcoin's direction.
Watch for: The $0.17 level; holding it suggests consolidation, while losing it indicates continued downward momentum.
Conclusion
Market Outlook: Bearish Pressure
AVNT's decline is a function of a toxic macro mix for crypto—tariff fears and institutional withdrawal—hitting an already weak altcoin sector.
Key watch: Can Bitcoin find a bid above $64,000 in the next 24-48h to halt the altcoin rout?