Three tokens barely moved while Bitcoin fell 8.9%. I can't tell you why 📊
Since Oct 28's close, the day before the Binance hack, on Binance spot (3:40 p.m. PKT, Nov 9): $AAVE -2.2%, $INJ -3.0%, $TRX -3.6%. For comparison, BTC is -8.9%, ETH -10.7%, SOL -16.1% and XRP -18.1%. These were the three best of the 19 large tokens I checked (my own list, not a full ranking).
One detail: INJ is among the six tokens with paused Binance withdrawals, yet it has held up better than almost everything. That is one more reason I don't read the pause as a price driver.
My view: relative strength is a watchlist signal, not a buy signal. I want to see these hold if BTC loses 73,510.
Do you watch relative strength in a falling market? 👇
#altcoins #defi
Since Oct 28's close, the day before the Binance hack, on Binance spot (3:40 p.m. PKT, Nov 9): $AAVE -2.2%, $INJ -3.0%, $TRX -3.6%. For comparison, BTC is -8.9%, ETH -10.7%, SOL -16.1% and XRP -18.1%. These were the three best of the 19 large tokens I checked (my own list, not a full ranking).
One detail: INJ is among the six tokens with paused Binance withdrawals, yet it has held up better than almost everything. That is one more reason I don't read the pause as a price driver.
My view: relative strength is a watchlist signal, not a buy signal. I want to see these hold if BTC loses 73,510.
Do you watch relative strength in a falling market? 👇
#altcoins #defi