T O P
Ferdo306

Alts go through relief rallies in bear markets And many of them have reached their previous bottoms in terms of BTC price Wouldn't expect big alt rallies until BTC shows some signs of life


Odysseus_Lannister

This sums up my feelings exactly


ipetgoat1984

My CELR has been having a run this week, happy to see it


babossa77

Only 95% down from ATH


ipetgoat1984

Lol. ![gif](giphy|dXFKDUolyLLi8gq6Cl|downsized)


Goonzoo

hah! my Moonriver can top that!


002timmy

My guess is the bigger whales and institutional investors in the crypto space primarily hold BTC and ETH, so when the market was crashing and big players were moving away from risky assets, it was BTC and ETH that took the hit. Small cap coins likely have a larger percentage of retail and small cap investors care more about seeing the project succeed.


jesuzombieapocalypse

That’s definitely a good explanation for it. Even when institutions hold alts it’s a tiny fraction of their crypto holdings.


SoftPenguins

Actual photo of OP: https://i.imgur.com/6dfR7jx.png


_Stealthy

Knowing why people sold instead of just calling it a bear market, answers all your questions. As well as to why others got/get bought. Can't just generalize everything and doing everything away with raw descriptive names ("bear market", "alt seasons"). Bitcoin can go down, others can go up. There's no stealth to it but plain obvious. What may be a "bear market" for Bitcoin or Ethereum may have little to no influence or even be positive on/by others. Except for X/BTC and X/ETH traders that suddenly pack a lot less punch for their tokens/bag in buying power which you may notice on others. Also, thinner orderbook or lower liquidity tokens move a whole lot more with the same capital if you do a market order rather than a limit and waiting for an order to get filled. Also called buy/sell walls. You'll often find those on support levels where people tend to buy and 'resistance' levels where people sell based on a simplistic understanding and application of TA and targets. If another projects token has lower liquidity and bids/asks are relatively small in size, they're easily pushed around and through said levels with a bit of money. So if people trade other tokens for example with Bitcoin as a base pair and Bitcoin is bid up or down, people will see the other asset go up or down relative to it and act accordingly. Which is why you see things following each other as some deviate. The sheer amount of BTC and USDT basepair traders all doing the same thing expresses itself in much the same ways across other X/BTC and X/USD(T/C) pairs. When things significantly deviate that should tell you that a large numer of people and/or funds are collectively coming together around one or another. As of late BTC and ETH have been underperforming terribly and looking grim from a TA perspective. Miners were running at losses and started dumping on top of things. Several large levereged positions collapsed, peoples understanding and opinions changed. The macro, or the idea of it, pressured crypto in general, etc. The image and expectations of BTC and ETH and its tech changed. The inflated (leveraged) hot shit deflated out of BTC and ETH. Additionally, others look and come out better in contrast. In general people have been very positive about 'competitors'. There is a whole lot going on in/out of the markets and simplifying things doesnt help anyone. It's not all (about) Bitcoin nor are all "alts" the same. "Bear market", "alt season" etc. just sound like sad-ass excuses and a lack of, or avoidance of, understanding of changing markets. Copium.


NorthNode22

BTC = Queen Elizabeth (ruler) ETH = Prince Charles (heir apparent) All other alts = Prince Andrew (thinks he's useful and important but isn't really...)


Kakoyiannaros

You did the alts dirty, comparing them to a pedophile who got away with it all.


Radsup4

Queen Elizabeth is a ruler?


didyeay

Think she's taller than 30cm


CymandeTV

None of mine but I don't care. It is time to accumulate.


Arcc14

Nice post have an uptoot


r44b

When BTC 5k?


KirbyAteMyCoins

Thats the exact thing I said last time just a day before my portfolio was down 20%


jesuzombieapocalypse

Oh, alt prices are most definitely going lower, even in terms of BTC and ETH values, I just thought it was interesting to see the latter two go up while the USD values of everything declined.


Fresh-Chemical-9084

Stealth alt season lol What are all these terms coming out lol


Brimmert

Out of OP’s @ss


SYgEnDsT

I don't think this is somehow related to some sort of bear market immunity. I'm seeing normal and small rallies on my portfolio. Some of my alts related to metaverse are going really well on the last 7d like SAND (+50%) and MANA (25%). My DeFi protocols have been doing fine too (aave and dafi with over 30%) and the same goes for Web3 projects (Dia and Hnt going up at least 10%). 65% of my portfolio is BTC/ETH and I'm waiting for a real rally.


SYgEnDsT

Some alts from my portfolio are pumping on the last 7d. Some examples are going close to 10% like cake, dafi, solana and fantom. But the majority still struggling. 70% of my portfolio is BTC + ETH, so it has been tough but I'm hodling on.