We’ve argued many times in the past that the correlation between Bitcoin’s price and the market capitalization of hundreds of altcoins makes very little sense.
Whether you buy into the idea that Bitcoin is digital gold, or a payment mechanism, or both, it doesn’t have a whole lot in common with Ethereum, Shiba Inu, or FTX’s native exchange token.
Well, whether we like it or not, big moves in the price of Bitcoin define crypto markets.
Before Bitcoin slid from the latest all-time high…
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