 | Grandpa BTC had a little bit of a slip today and with that ALTS by and large decided it was time to bleed out in the streets. BTC is down 1.6% over the last 7 days. But if you look at Alts it's a whole different story. Sol down 14% in seven days, Cardano 16%, BCH 22%, ARB 22%, Algo 20%. In fact the majority of ALTS in the top 100 are down 15% or more compared to BTC down a measly 1.6%. It's tempting to look at this and think well Alts are up from their bear market lows so they're doing ok... But compare ALTS to their alt/btc pair and you see a completely different picture. Algorand just hit a new ATL against BTC. Cardano just hit a new low against BTC since Jan. 2021 Arbitrum just hit a new low against BTC. With no actual Alt Season occurring so far on the BTC ATH run up, most Alts haven't seen much benefit price wise. If BTC crabs or crashes after the halving I'm a bit scared to see what might happens to alts and I honestly wouldn't be surprised if some of them hit a new ATL. [link] [comments] |
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