And that's a wrap!
Kennel Capital finished 7th in the Squad Rankings at @Bybit_Official’s WSOT, with @const_phoenixed leading the pack and taking 1st place in the Streak prize pool. 🔥
Another perspective on alts strength: how alts react to the BTC moves up.
When the top for alts is near, alts are just "hanging" on the BTC strength unable to move higher on their own - right till the time when BTC reverts.
Then, the free fall comes
Because that «anyone» [spoiled by upside volatility of the last years and envying his neighbor driving a new car] sincerely believes that his asset will do that 2% in a weak
The "digital gold" meme and the association of BTC with the GOLD would force players to include the BTC to the precious metal sector portfolio.
All of this would inevitably lead to the GOLD-to-BTC rotation later on.
As the $GOLD approaching the all-time-high, its relation with $BTC would follow the "BTC vs Altcoins" rhetoric pattern, the difference is BTC now plays a shitcoin role in that play:
"GOLD is 5% to ATH, BTC is lugging, as BTC reaches ATH it will gain 220%. I'd rather buy BTC"
My best position in @FTX_Official leaderboard is 75-77 place, afterwards I dropped out completely. Always happy for the players progressing not only during "supercycle". Well done @Galois_Capital