Bitcoin Dominates Crypto Market as Altcoins Suffer
#### Standfirst
Bitcoin and ether have gained slightly in the past 24 hours while altcoin prices have declined, according to Plasma’s chief strategy officer Zaheer Ebtikar.
Bitcoin has moved into capital markets plumbing with ETFs, basis trading, institutional hedging, and collateral. That flow doesn’t need a rally to justify itself. However, most of the altcoin market hasn’t made that transition yet.
The exact reasons for bitcoin’s continued strength versus other crypto assets remain unclear, while the projected impact on altcoins from their inability to clearly define how value accrues during market declines remains uncertain.
Written by Oliver Grant
Markets Desk
