Bitcoin hits historic low after Pavel Durov’s arrest

After the arrest of Telegram CEO Pavel Durov on August 24, the price of Notcoin (NOT) fell by 20%, dropping to $ 0.0088. The growing pressure on sales in the crypto sector increases the risk of the altcoin’s value falling to a historic low of $ 0.0046, which was recorded on May 24.

The instability in the industry has affected user activity, as the number of active addresses conducting transactions with NOT has decreased by 76% over the past seven days. In addition, the demand for cryptocurrency has also declined, as evidenced by a 77% drop in the number of new addresses created to trade the virtual asset.

Despite this situation, large token holders, the so-called «whales,» are actively accumulating NOT, taking advantage of its decline. Over the past seven days, the net inflow of funds to large addresses has increased by 312%, reaching a three-month high.

However, technical analysis shows that the future of Notcoin remains uncertain. Indicators such as Chaikin Money Flow (CMF) and Relative Strength Index (RSI) signal market weakness and a likely further decline in the token’s value.

As a reminder, TON developers used the Resistance Dog (REDO) meme-coin avatar to express support for Pavel Durov, the founder of Telegram, after his detention in France. This led to a sharp increase in the token’s value by 140%.