🩸 If you look at the market globally, you will notice that nothing has grown except Bitcoin. Against the backdrop of the $BTC rally, alts continue to decline, periodically showing strong short-term impulses, which fade quickly enough and look simply ridiculous at a distance.
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👀 For example, let’s look at the chart of the $XLM coin, which showed one of the best dynamics relative to other alts from the top 100 during Bitcoin’s growth.
If you look at the daily timeframe or below, it seems that the rocket is already taking off and FOMO may begin. In fact, the price rebounded from the bottom by only +37%.
But if you look at the global picture, at least on the weekly timeframe, then the current growth looks like nothing. 🥱
Before the start of the current growth, the price was cheaper by -90.49% of its highs. Now, taking into account the growth, the coin is worth -87.18% of the highs. Agree, when analyzed from this angle, an increase of +37% on small timeframes is not even noticeable on larger timeframes. And who could buy at the very bottom? 🤔 We think no one.
Therefore, there is no need to climb into such missiles, since the potential for continued fall is still great. The situation is the same with almost all alts, so during the current market rebound we have further reduced the share of the portfolio from 27% to 22.5%.
📈 Bitcoin Dominance
On April 27, we wrote a post 👉 https://www.binance.com/en/feed/post/466415
In the post, we pointed out that Bitcoin's dominance is going to break through the 2-year sideways range upward, which will make alts feel very bad. As a result, the breakdown was completed, we saw the growth of Bitcoin and the fall of alts.
That is, liquidity is still flowing from alts to Bitcoin after the situation with the exchanges, when the SEC began to put pressure on them. But the point here is not even that, but the fact that when the collapse we expect begins, alts will fall even more, despite the fact that many are already near key historical support zones.
🎮 Therefore, if you still hold most of your funds in assets, then you should carefully reconsider your strategy.
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