Trending topics
#
Bonk Eco continues to show strength amid $USELESS rally
#
Pump.fun to raise $1B token sale, traders speculating on airdrop
#
Boop.Fun leading the way with a new launchpad on Solana.
The reason why BTC and ETH drop harder than altcoins during a downturn is that institutions or whales are frantically selling off their spot holdings.
They don't hold mainstream altcoins, so during the collapses of 3AC/FTX and the recent market crash, many mainstream altcoins quickly started to consolidate instead of continuing to drop, while Bitcoin and Ethereum kept falling.
What you can visibly see are the liquidations of Bitcoin and Ethereum; these are the assets that institutions actually hold. The mainstream altcoins, after being bloodied, tend to rebound before Bitcoin, and this is the reasoning behind it. Those in control have enough cheap chips, so they naturally have a better chance to pump the price.
If one greedily shorts in pursuit of a 2% drop, leading to a direct fall to 54000, 50000, or 49000, I think that would be a truly low-probability event. Before breaking down, it would be much more reasonable to push up to 70000 or 74000, triggering the pain points of short positions before dropping again.
The money is yours; just respect every trade and decision you make.
Top
Ranking
Favorites
