A new range and direction
Crypto Compass 11
Key Takeaways
Altcoins' returns vs bitcoin are above altcoin season average, yet the overall market gravitated toward bitcoin.
The market is not overheated, but more firepower is required to go explosive.
Bitcoin: new direction and new range. Is this the oxygen altcoins need?
Last week we favored high beta, we’re looking for high relative beta this week.
Altcoins’ median return vs bitcoin is above the altcoin season average. However, we’re still below the full-blown alt-season returns.
Currently, altcoins are exposed to bitcoin pull-backs - like the one we saw today - given its dominance according to the Altcoin Cycle Signal. The tides are shifting toward ethereum.
Altcoins outperform bitcoin on average, yet alt intensity (momentum) faded today after bitcoin’s retrace. This is the consequence of carrying high beta
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