Wish crypto would decouple from BTC already

CN
2 hours ago

Wish crypto would decouple from BTC already.

The industry is actually maturing. RWAs, perps, prediction markets, onchain equities, neobanks...

Yet $ETH and $SOL still trade on BTC's beta.

Saylor's ponzi, quantum FUD, miners capitulating, none of it affects them, but they dump anyway.

Even major coins are different in value prop:

- SOL going for the onchain Nasdaq

- ETH as settlement and money for DeFi

- BTC as non-sovereign store of value

Maybe it's naive to even wish for it, because funds and retail still hold it as one bucket called 'crypto'.

Saylor dumps 32 BTC and the whole sector dumps.

$HYPE is the one that actually managed to break free thanks to revenue and buybacks giving it a bid that doesn't care what BTC does.

Standard Chartered's recent thesis on $UNI as a tokenized-equities proxy instead of a BTC-beta trade is a promising sign of the same shift.

So it probably takes serious revenue and users to defy BTC's gravity.

SOL, ETH, UNI still trade more on narrative than cashflow.

Like BTC itself.


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