“Breaking Down This Move” Follow-Up

A week ago today, we wrote the morning report “Breaking down this move”, dissecting the relative performance of the top 13 market cap coins vs. the 17% rally of the entire crypto asset class. To review, the top performers were Bitcoin Cash, Litecoin, Dash, Cardano, Bitcoin SV, and the laggards were XRP, Tron, Stellar, ETH. We stated, “we would not want to make knee-jerk comments regarding these spreads, only that we have had a large move in the overall space, and keeping track of these leaders and laggards can be very important for future trading opportunities.” Having now settled down after the rally from April 1st, we can see traders are adjusting their portfolios, re-jiggering their positions, via the relative performance of these top cryptos.

This rebalance, or adjustment period over the last 7 days, can show us a few things:

  • BNB rallied ~16% on the April 1st move, in-line with the entire asset class, however has given about half of those gains back over the last week. BNB’s rally is being sold into and that should be noted as weakness.

A global digital asset financial technology & services platform providing next-gen risk management solutions, best-execution brokerage & expert market analysis.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store