What is happening in Crypto? 🧠

For the first time in what feels like a week or two, the market took a slump yesterday. Well, everything except for Bitcoin that is, which has once again surged over $95,000.

$BTC showing such strength would make you think that euphoria among traders would be at a peak, however from what we can see across social media this really isn’t the case.

What’s likely going on is most crypto natives had allocated their portfolios to alt-coins hoping for greater multiples, and haven’t yet felt the benefits of the bull run. If true, this means #Bitcoin likely has more legs in it to go higher as crypto-native traders begin to FOMO back into $BTC.

It’s been a tough year for alts but it’s worth remembering this is what we saw last cycle as well, where Bitcoin sucked the liquidity out of everything on its major run up. Only once it stabilizes should we expect to see meaningful flows back into lower cap coins.

🐳 For now, don’t get shaken out of your conviction bets and keep an eye on that $BTC price.