The price of Notcoin rose by approximately 36% in the past 24 hours as sudden bullish speculation sharply lifted the Telegram-based token.
However, the surge did not translate into sustained momentum. Instead, it caused the heaviest sell-off in six months.
Notcoin is distancing itself from Bitcoin
The relationship between Notcoin and Bitcoin has weakened significantly, dropping to 0.43. This rapid decline shows that Not is no longer closely following Bitcoin's price movements. Such a separation can be beneficial if BTC continues its volatility or records further declines, as Not may avoid direct downward pressure.
However, it also introduces new risks. A strong Bitcoin rebound could pull liquidity away from smaller speculative assets, which might lower NOT if its internal sentiment remains neutral.
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The Chaikin Money Flow indicator shows a sharp decline over the past 24 hours, confirming heavy outflows. The indicator has moved into a more negative territory, indicating that investors quickly exited their positions after the rally. It is likely that many of them sold to take profits or to reduce risk, contributing to the sharp pullback.
This selling pressure hits the bullish momentum that initially drove NOT up. Continuous outflows at this pace could limit short-term recovery attempts. NOT coin will need renewed accumulation and stability in the wider market to balance the impact.
The price of NOT peaked at $0.000750 during the daily surge before dropping to $0.000615 at the time of writing this report. The swift correction reflects a change in sentiment and aligns with the outflow signals seen in market indicators.
If Bitcoin starts to recover, NOT may face difficulties. A Bitcoin rebound often redirects liquidity towards larger, less volatile assets, which could push NOT below the support level at $0.000609. Losing this level would expose the token to a drop towards $0.000552.
In contrast, if Bitcoin drops again and investors regain confidence, the altcoin is likely to find support at $0.000609. The success of bouncing back from this level could push the price towards $0.000723, providing an opportunity to negate the negative outlook.
