Conversation

Lots of people posting about ALT/BTC performance are reading into ALT flows. I think this is probably wrong. Take today for example: a) ALT/BTC is up b) ALTs and BTC are both down c) volume has mostly been in BTC d) BTC premiums down This looks like a BTC-driven down move.

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SBF

@SBF_FTX

Aug 14, 2019

In particular we're NOT seeing evidence of BTC driving markets down but the ALTs driving themselves back up; it really does just seem like BTC down, ALTs down less because the flow is in BTC.

SBF

@SBF_FTX

....and here comes the ALT dump. It really does seem like it was a BTC dump yesterday with ALTs following today, really not seeing any evidence of ALT inflows.