Both Bitcoin and the Altcoins saw another disappointing day yesterday. In general, the behaviours were so correlated that you might as well have been watching the same coin. They ranged for a bit at support levels, only to dip and get bought back hard, giving investors false hopes as they fell back to support levels or worse, and continued ranging. The Altcoin Index has dropped substantially, and Bitcoin is no better. The Kovach Crypto Spread Index is at par, suggesting that funds are flowing out of cryptos back into fiat.
Interested in the Altcoin Index and the Crypto Spread Indicator? Check them out here!