When altseason? Here is why Bitcoin is leaving main altcoins like Ethereum behind
When altseason? Here’s why Bitcoin is leaving major altcoins like Ethereum behind
Ether (ETH), the native cryptocurrency of the blockchain, has been lagging behind (BTC). Historically, when BTC surges, altcoins tend to rally with larger upside price movements.
This time, Bitcoin has been clearly outperforming the altcoin market, particularly in December. BTC market cap dominance has recently risen to a one-year high of around 70%, largely due to the big sell-off in in the past week.
vs. (yellow), (orange), (blue) 1-day candle chart (Bitstamp). Source: TradingviewETH/BTC daily candle chart (Binance). Source: TradingView.com
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