Bitcoin (BTC) and the wider cryptocurrency market are taking a breather after the rally on May 31. Meanwhile, most altcoins remain severely oversold, with most between 70% and 90% below their all-time highs.

Total altcoin index capitalization

What is clear is that fear is everywhere and blood is in the water. Risk-on markets are suffering worldwide, but it is exactly these kinds of conditions that create opportunities where professional money accumulates and adds to positions.

ADA/USD weekly Ichimoku Kinko Hyo chart Source: TradingView ADA/USD weekly chart (Binance) Source: TradingView Polygon (MATIC) Source: Twitter (NYSE:TWTR) MATIC/USD weekly chart (Binance) Source: TradingView XLM/USD weekly chart (Binance) Source: TradingView