Why Bitcoin fell more sharply than Ether
livemint.comBitcoin has markedly underperformed rivals like Ether with its weekend drop, which may underscore its increased connection with macro developments.
The largest cryptocurrency fell as much as 21% on Saturday before recovering, though it’s still trading near $48,200, down about 10% from Friday’s close. Ether, the second-biggest, dropped as much as 17% on Saturday and is now little changed over the three-day period.
“The rest of the crypto market recovers at a much faster pace than Bitcoin" from events that create macro uncertainty, Fundstrat head of digital-asset research Sean Farrell said in a note Sunday. He cited reaction to three events Friday: news on the omicron variant, reaction to potential for an expedited Federal Reserve taper and
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