Jun 24, 2026 commentary
Stealth Selling Pressure Isolates Bitcoin from Altcoin Resilience
₿ Conviction
Bitcoin sold off harder than any other major crypto asset on Tuesday, and the shape of the tape points to a motivated seller rather than a purely macro-driven decline. While broader risk assets also came under pressure — particularly technology equities — BTC led the move lower for most of the session. ETH and SOL initially held up before catching down as the risk-off intensified. Open interest shifts and a still-positive Coinbase premium reinforce the thesis that idiosyncratic supply was at work, not just a correlated drawdown.