Aptos, never one to be accused of overachieving, managed to spectacularly underperform during Aprilâs grand bullish parade. While other coins built fancy castles up to $17.90, our dear APT stayed at home and poked at a local top of $6.14. Thatâs right: when most cryptos went skiing, Aptos apparently brought a toboggan.
The grand drama commenced with Bitcoin tumbling headlong below the ostentatious $100,000 dais in the wake of Americaâs latest display of foreign policy subtlety (read: lobbing missiles at Iranâs nuclear amusements). Investors scattered with the elegance of startled pheasants, leaving a vapor trail of $855 million in evaporated dreams. But behold: soon, as is the custom, the charlatans and prophets returned to the crypt, and Bitcoin lurched up to $107,588âa Lazarus act propelled by a 75.8% rise in volume and, presumably, caffeinated trading interns in New Jersey basements.đ¸
What, pray, is an âalt seasonâ? It is that bemusing interlude when these unruly coins, spurred by youthful audacity, attempt to outshine the venerable Bitcoin. In the hothouse year of 2017, as well as the ebullient months of late 2020 and the halcyon dawn of 2021, such things were witnessed, much like wild geese suddenly overtaking the stately swan on the estate pond. Yet now, alas! Bitcoin dominates the landscape as an uncompromising landlord, while lesser coins retreat, heads hung, in both USD and in their eternal contest with their bigger brother.
But what ho! Ethereum (ETH) must have missed the memo, or perhaps it simply fancied a spot more drama today, as itâs dipped a modest 1.14% over the last 24 hours. Well done, ETH, for keeping everyone on their toes đ.
Take Ted Pillows (I know, if youâre going to make predictions on the internet, choose a name you can embroider on a cushion). Heâs waving his charts, insisting Ethereum has bounced off its classic âlower channelâ like a cat that canât decide if it wants in or out. Apparently, this is ETHâs signature move â did it in 2017, did it in 2021, made a lot of people tweet in all-caps, and now could be ready to do it again. Or maybe not. Who knows, crypto is basically astrology with spreadsheets.