$RENDER isn't simply following $BTC : at 14:50 Beijing time, over a rolling 24-hour period, RENDER fell 4.837%, while BTC fell 0.259%—a difference of 4.578 percentage points.
Both are currently trading above their respective 24-hour volume-weighted average prices. Ending lower than 24 hours ago does not mean the current price is already below the window's average trading level. These figures support only the observation that both fell, by different amounts, while their positions relative to their average prices moved in the same direction; they do not justify attributing RENDER's larger decline to project-specific factors.
Next, check whether both are still falling and the gap remains significant, and whether their current prices remain above their respective volume-weighted average prices.
Both are currently trading above their respective 24-hour volume-weighted average prices. Ending lower than 24 hours ago does not mean the current price is already below the window's average trading level. These figures support only the observation that both fell, by different amounts, while their positions relative to their average prices moved in the same direction; they do not justify attributing RENDER's larger decline to project-specific factors.
Next, check whether both are still falling and the gap remains significant, and whether their current prices remain above their respective volume-weighted average prices.