Support levels are starting to break, over the last few days. I think we are a long way from a bull market.
Let's hope that BTC won't fall too far, and can recover its losses and re-establish $10k. That I think is the marker for a more bullish market sentiment. At the moment however, a recovery to even $9k looks like a long shot.
Forget alts for the time being, I don't think the market is strong enough for alts to lead on price movement. At the moment it is all about BTC.
Exactly what crypto traders do since 2014. When the crypto markets contract in volume and in price, they all flee to Bitcoin trading. Recently stablecoins are given much more importance now as a haven or hedge against declining coins.
Yes. This is why, when people talk about an 'alt season' starting, the first thing I consider is how strong BTC is looking. I think for an alt season you need huge positive sentiment in the market, so people are willing to move out of BTC and into the more speculative coins.
I don't see how people can call an alt season right now, when sentiment is flaky at best. The question now is do we flee from BTC into the relative safety of stablecoins, not do we extend out from BTC into alts. Sentiment is headed the wrong way for an alt season right now. I'd love to see one of course, just can't see it anytime soon.