$LINK has tracked Bitcoin closely over the past 30 days, but its losses have been steeper.
On Binance Spot, the last 30 completed daily candles for LINKUSDT (October 10 to November 8, UTC) show LINK falling from 13.012 to 10.411, a decline of 19.99%. Over the same period, $BTC fell 9.80%, while $ETH fell 15.12%.
Of the 29 daily moves, LINK moved in the same direction as BTC on 23 days and in the opposite direction on just 6. On the 13 days BTC closed higher, LINK gained an average of 1.13%, rising alongside it on 10 of those days. On the 16 days BTC closed lower, LINK fell an average of 2.19%, dropping alongside it on 13 of those days.
LINK fell more on average when prices dropped, and didn’t rise as sharply when they climbed. Its high during this 30-day window was 13.506 on October 12. Based on the November 8 close of 10.411, it was down 22.92% from that peak and would need to gain another 29.73% to return to it.
Average daily trading volume was around 21.53 million USDT, so liquidity isn’t bad. High correlation doesn’t mean there’s a safety net: when Bitcoin falls, LINK often falls further.
Would you hold it as a BTC substitute because it tracks the market closely, or specifically avoid an asset that amplifies losses?
On Binance Spot, the last 30 completed daily candles for LINKUSDT (October 10 to November 8, UTC) show LINK falling from 13.012 to 10.411, a decline of 19.99%. Over the same period, $BTC fell 9.80%, while $ETH fell 15.12%.
Of the 29 daily moves, LINK moved in the same direction as BTC on 23 days and in the opposite direction on just 6. On the 13 days BTC closed higher, LINK gained an average of 1.13%, rising alongside it on 10 of those days. On the 16 days BTC closed lower, LINK fell an average of 2.19%, dropping alongside it on 13 of those days.
LINK fell more on average when prices dropped, and didn’t rise as sharply when they climbed. Its high during this 30-day window was 13.506 on October 12. Based on the November 8 close of 10.411, it was down 22.92% from that peak and would need to gain another 29.73% to return to it.
Average daily trading volume was around 21.53 million USDT, so liquidity isn’t bad. High correlation doesn’t mean there’s a safety net: when Bitcoin falls, LINK often falls further.
Would you hold it as a BTC substitute because it tracks the market closely, or specifically avoid an asset that amplifies losses?