There was this wick from a previous meltdown (13/4/24) and as you probably know wicks get filled sooner rather than later in order to move forward.
Some take a long time to get filled and some other and especially when it comes to altcoins which are super vulnerable to sudden BTC swing get filled really soon
This was the case today. A simple ~3% dip for BTC and a spike to its dominance as people exited their alt positions and rotated to BTC was enough for the perfect flush.
Are we done? Expecting more volatility but I think we're done with it. Funding rates have also been reset, so back to normal in a while. Probably...
Stay safe out there
Some take a long time to get filled and some other and especially when it comes to altcoins which are super vulnerable to sudden BTC swing get filled really soon
This was the case today. A simple ~3% dip for BTC and a spike to its dominance as people exited their alt positions and rotated to BTC was enough for the perfect flush.
Are we done? Expecting more volatility but I think we're done with it. Funding rates have also been reset, so back to normal in a while. Probably...
Stay safe out there
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