CoinDesk Indices head of research Todd Groth, CFA, discusses the sector performance last month, after bitcoin (BTC) gained roughly 28% in October.
We're having much more trading like the like a whole sector up and down. And that's partially because of Bitcoin. Bitcoin being the largest. If you look at from market cap weighted lens, it's going to contribute more. But it's also, it's a bit of the gravity of the whole market as what we see across the cycle. Generally, Bitcoin leads their tokens upwards through a cycle. Then once you get to closer to the peak of the cycle, then you have investors make some side bets away from Bitcoin into the alt coin season as it's referred to.