is crypto finally getting decoupled from BTC's dominance? or is it all over?
Anyone else surprised BTC is dropping harder than alts?
Owen Jenkins
Ayden Bailey
not totally sure why it's happening either. Maybe in alts in 2017 felt more "scammy" and vaporware-ish so people dumped them harder but now they are (or seem) more legitimate/real/have real value?
Connor Hughes
That's my conclusion too. The other reason could be that big institutions, which were mostly in BTC/ETH, are constantly dumping
Samuel Morgan
"institutions" are "Panicking"
Carson Wright
What do you mean BTC is dropping harder than alts? Is you memory fried or do you not remember that for every 5% drop BTC made, alts did 10? Memory of a goldfish or you're unbelievably new
Nathaniel Sullivan
I obviously meant in the last few days. BTC should have stabilized already while alts keep bleeding to oblivion
Tyler Sanders
BNB has gained sats over the course of the last few days. Not the only alt either, shit like vet too. This is pretty fucking weird for btc crashes.
Jack Thomas
And it's like biz doesn't care at all. That's whats surprising me even more.
Isaac Allen
cause some alts have a purpose
Joshua Powell
niche = smaller but more enthusiastic userbase
Elijah Robinson
Is it possible that this happens because BTC and ETH were leverage traded? If it's about use-cases, then Litecoin (which is practically Bitcoin) would have crashed just as hard but it's evidently not that. It's not about use-case. I can't think of anything else other than crypto companies liquidating their assets
Jayden Brooks
>I can't think of anything else other than crypto companies liquidating their assets
Not happening unlike 2018-2019
it's eurobonds fucking everything up there is a massive dollar liquidity crisis going on jerome is accelerating the interest rate rise while the rest of the world is not doing shit.
Liam Ward
Yes, that sounds right. I guess if the parties causing this dump are exclusively selling BTC and maybe ETH to liquidate either Celcius or some other player (like they did with Luna). That would provide unnatural dumping for btc. I would still expect the usual crashing of alts though, but maybe the extra selling pressure would be enough.
Guess an important question then is if they will buy back bitcoin after the continued dumpening or not. Could see a sharp rally in that case.
Ryder Powell
OP, fully agree, this is genuinely unexpected. Everyone was expecting a BTC collapse to 20k or 10k. But I think the assumption was that, as always, BTC would dump the least, and alts would be annihilated.
I think that part of the reasons is that BTC and ETH are way more involved in some of the corporate/fund liquidations that are going on?
Anyways, delighted that my Link is holding up so well, but this a really weird development for sure and I don't know what to make of it.
Ian Cooper
Alts unironically have more bullish narrative going for them at the moment
BTC lost every single one of them
Luis Martinez
lot's of institutions are bagholding eth 2.0 locked, their entire future depends on eth 2.0
That said eth liquidity on exchanges is bigger than btc, btc is being all bought in exchanges for real.
Something shaddy is going on in my view, someone knows something about the global economy and is making their move but they need to buy on a bear market to not spook everyone.
Cryptoquant data literally shows the price is going down and massive ammounts of crypto are being bought.
Also the energy crisis in multiple nations like argentina trucks, us diesel and other trucking energy problems are weird not many news yet it's fucking massive that so many supply chains are being paralysed due to energy.
What do you think?
Daniel Reyes
I mean nations have literally collapsed and nobody wants to even acknowledge it
We're living in an information black out
Austin Rodriguez
they're just lagging. their sat value gonna plummet next time bitcoin makes any move up, then into the ground when bitcoin dives again
Jack Turner
Am I the only one here who doesn't understand what are you talking about? Most of alts are already dead. ETH still needs a big dump at the ratio. BTC dropping is paper form until ~15k. The pi cycle indicator and the hash ribbon are still ~10 days before final capitulation.
Landon Perez
I think whales are aiming to liquidate Celsius. That's a big pot of gold.
Michael Martinez
dumb doomer.
Justin Cruz
BTC holders will never receive any earnings. There are alts right now with absurdly low p/e ratios