This April/May move on altcoins was basically a tiny echo bu | thedefivillain on Binance Square

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This April/May move on altcoins was basically a tiny echo bubble for coins that went crazy in late 2024 and then died in Q1 :
Memecoins
AI agent coins
VIRTUAL
SUI
The other top-performers are either revenue-generating projects or pure memes :
HYPE AAVE SYRUP
FARTCOIN SPX

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Some charts are truly a work of art This is the log chart of SANDBTC It's still +120% above it's January 2021 lows

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This was truly an echo bubble on AI agent coins, they went down -95% from their ATH, and on the first signs of life in the market, pumped 3x-5x again in a few weeks before going back to dead mode

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The recent Upbit listings have all been great shorts Glad to see that the market is still providing us with such inefficiencies The only thing that can be tricky is the funding $LPT $RVN $AXL $ALT

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As someone who is permanently skewed towards a long BTC / short altcoins positioning, this scenario is a scary one that could happen again : In late Feb 2025, when $BTC broke down below its $92k support, it lost almost -20% in 3 days, and surprisingly, the altcoins outperformed during most of that move One reason for that is that they had gotten destroyed during the previous weeks (there was a massive cascade down on Feb 2 for example), whereas BTC had not capitulated at all before that dump. I think there is a risk we are going to see the same scenario again (because many altcoins are already rekt, while BTC is chilling above $100k), but it's not my base assumption. My base scenario is for $BTC to bottom between here and $98k, without a meaningful outperformance from altcoins.

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I'm hoping for this to break down at some point Send every XRP bull back to waging pronto

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