ETH/BTC Is The Best Proxy For Measuring Altcoin Market Sentiment – Investor

• Daan Crypto Trades believes SOL/BTC is not the appropriate gauge for altcoin sentiment.
• According to Daan, Solana’s recent growth hardly impacted Bitcoin’s dominance.
• The investor explained that altcoin seasons are usually short but explosive.

A renowned cryptocurrency investor identified as Daan Crypto Trades on X has argued that the SOL/BTC pair is not the appropriate gauge for altcoin strength in the crypto market. In a recent post, Daan acknowledged SOL’s impressive performance but noted that it did not have a proportionate impact on Bitcoin dominance (BTC.D).

Seeing a lot of people claim $SOL/BTC is a better proxy for general alt strength than ETH/BTC.$SOL performed extremely well and the general alt market underperformed BTC as BTC.D grinded higher.

Therefore, I would not say SOL/BTC is a good gauge for overall altcoin strength at… https://t.co/8KpdnACoOt

— Daan Crypto Trades (@DaanCrypto) April 28, 2024

Daan’s position counters the growing impression that SOL/BTC has become a better proxy for measuring the general altcoin strength than ETH/BTC. According to him, the SOL/BTC idea stems from Solana’s recent performance, which most people c…

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