Matthew Dibb, COO and co-founder of Stack Funds, told CoinDesk that the rallies for MATIC, ATOM and AVAX are being held up on low volume.
“Because of this we would expect that any decent drop in equities will lead to a selloff in alts,” said Dibb.
He also noted that bitcoin dominance (BTC.D) has dropped considerably in the past few days from its high at +48%.
Dibb explained that this is because there has been relative strength in ether as well as litecoin vs. bitcoin which has led to BTC dominance losing some ground.
“Our expectation is that should a further selloff occur, we will see BTC.D continue to head north to short term highs,” added Dibb. “We see this as a temporary situation."
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