Micro-bear market?
I had to get off the rocket after it's stalled so many times and take off my rose-tinted glasses for this one. Maybe I just need different fuel or a different ride.
I think it's kind of funny that throughout these past 2 quarters there was always a different narrative to pump and dump coins throughout the market.
I know Bitcoin is sucking up the liquidity of alts as it keeps trying to touch 110k but the alts are hardly budging, like a beaten animal – they're afraid to move. I understand we may still be under a Bitcoin season but at this point altcoin sheepishness is becoming somewhat apparent as it isn't nearly moving as much as Bitcoin is with enthusiasm. This is literally like trading with crumbs.
If Bitcoin somehow manages to correct again like it did with the Israel-Iran conflict it's going suck up the value of altcoins as there's been macro negative divergence in all of Crypto since January. I'm not sure I want to hold my coins when it touches back down to 85-95k. Traditionally, Ethereum is supposed to be the second hand to move to signal altcoin season but it's not moving much either. Not sure what Vitalik is up to these days or if we can reliably run on past graphs this time.
Some people this month are banking on J. Powell to say something about tax rate cuts next month but he does nothing but foam nothing burgers into existence. He says the job market's doing fine when there's probably someone out there working 3 jobs just to stay afloat. Now he's sweating over the fact may be he should have cut rates in June as it may be too late to which could lead to a further descending action and liquidation, lol.
It's just funny.
submitted by /u/SliceTyphoon
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