I think BTC dominance return back up toward 60% shows we’re not fully in alt season yet, hence slow returns last few days. Perhaps it’s a test of the bull market support band? Or is it a retest of 60%
Let’s hope its just a retest or something, there is a lot of bullish news out there, but it seems that BTC is currently stealing the show.
Last days were a bit frustrating for the bots and me too
Yeah and it could just be that. All through 2021 it felt like when BTC made moves to a next level, the alts would sit back and watch in anticipation! Then after a period of time, alts would go crazy while BTC stabilised at that level.
Same as I remember.
Patterns work till they’re not, and I’m a bit concerned that this bullrun is far more BTC centric than most before.
But on the other side, why shouldn’t we get an nice alt-season. Maybe a big correction after an extreme BTC pump or a black swan?
Times are more crazy than ever, wouldn’t be too surprised if we see an 500k BTC or an 50k BTC next year.
Guess the volatility comes back tomorrow, FOMC statement release is at 7pm GMT.
I would say that the market has now changed.
Alts following BTC move by 3x was 2021 whether up or down is a thing of the past.
Back then DeFi was too small. Automation bots werent so many.
Now any coin goes up ppl short it like crazy and funding fees get so high that a sustained move ti keep going up isnt just possible
Again i might be completely wrong and soon we might see alts make higher highs