TL; DR
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Crypto markets need new narratives to fuel price action, but really – narrative or not – if Bitcoin moves, the rest of the market will likely move along with it.
Full story
Another childhood analogy? Of course why not.
Remember those deals your parents made with you? “If you maintain a B average, we will take you to a water park this summer.”
At the time that story took place, you were studying harder, paying more attention in class, and even going so far as to ask for water park-related gifts for your birthday (swim trunks, life jackets, goggles, etc.).
The crypto market follows a similar path: it finds stories and works towards them.
Whether these stories will ever actually be realized is a completely different question…
The point is: once established, the market starts to build towards the conclusion of these stories – and in the case of crypto markets: “build” = “invest”
For example:
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The Bitcoin ‘Runes’ story saw a pump in activity on the chain.
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Solana saw a pump thanks to the “holy sh*t, we didn’t die after the FTX collapse!? This is awesome!” story.
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And Ethereum had its own ETF story (very short).
But now that things have calmed down, the market is in desperate need of a new story to invest in.
…rather.
See, the problem with crypto markets is: when Bitcoin pumps, the rest of the market tends to pump. And when that happens, certain stories can add extra momentum to certain projects.
But when it all comes down to it – straight story or not – if Bitcoin is moving, the rest of the market will likely move along with it.
So yeah, right now crypto is a total snooze-fest.
The good news is: we are still on an upward trend!
That means that after Bitcoin takes its well-deserved breather (after seven months of ‘up only’ between September 23 and March 24), there is a good chance that we will continue to rise.
And when that happens, stories like:
They will all feed the flames of positive price momentum again!
