Crypto World: The crypto market generally follows the direction of the U.S. stock market, but on smaller timeframes, it has its own patterns. To put it simply: when it’s strong (like now), it moves with tech stocks; when it’s weak (like before June this year), it moves with other sectors. As of now, Bitcoin’s current adjustment still seems to be a sideways consolidation, barring any surprises. However, quite a few altcoins have already started moving in a vertical adjustment. The result is: 1. Bitcoin’s main sideways adjustment is protecting the cost basis; 2. Altcoins are completing vertical adjustments during Bitcoin’s consolidation, shaking out weak hands. A few altcoins with no long-term potential might be fully distributed at this point. Same logic as the U.S. stock market: crypto funds are concentrating on a few high-quality assets. Oh, damn! Just as I was writing this, the market started dropping. Nice.