Altcoins stage a relief rally while Bitcoin traders decide whether to buy the dip
Cointelegraph
Published May 10, 2022 04:11PM ET
Updated May 10, 2022 06:00PM ET
The similarity in price action between the crypto and traditional financial markets remains quite strong on May 10 as traders enjoyed a relief bounce across asset classes following the May 9 rout, which saw Bitcoin (BTC) briefly dip to $29,730.
Market downturns typically translate to heavier losses in altcoins due to a variety of factors, including thinly traded assets and low liquidity, but this also translates into larger bounces once a recovery ensues.
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Written By: Cointelegraph
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