Pushing Higher

BTC outperforming, trading ranges, cross-asset correlations

*|MC_PREVIEW_TEXT|* Hello my tasty friends, please find our mid-week update below. Pushing Higher. We were in Toronto last week for the Coindesk Consensus Conference, and let me tell you, the people are bullish.  Legislation is making its way through congress, capital is banging on the door, and investors from retail traders to institutions are placing their bets. We can see the all-time high on the horizon, but is it an inevitability or are we due for a broader correction first?  I'm in the former camp, but let's take a look at what the tea leaves are signaling. BTC Dominance ain't dead yet. For a second there it looked like alts were about to go on a massive run against BTC a couple of weeks ago, but that simply hasn't materialized, at least not yet. For now, I still think it's Bitcoin over everything. There will be a time to rotate, but I don't see much of anything signaling a structural change today. Keep an eye on the ETH/BTC ratio though… North of 0.03 and the gods might favor ETH. Don't fall asleep on volatility. Implied and to an extent realized volatility levels are low. This means smaller estimated trading ranges on a weekly basis, but this can also change rather quickly. BTC volatility is nearing a 1-year low, i.e., it's relatively cheap. This doesn't mean it can't go lower from here, but we've previously experienced vol expansions after reaching these levels. Outside of BTC, alts are taking a breather after a monster bounce last week. No structural change yet as bitcoin still leads. BTC vol and estimated weekly range (one standard deviation move) is pricing in a new all-time high, but we're not seeing this in other tokens yet. Volatility confirms what we're observing across the performance dashboard.  Correlations: Updated - 5/21/25 - 8:00 AM CT Relative performance (weekly): ETH/BTC  -8% SOL/BTC  -10% SOL/ETH  -2%   The tastycrypto Show: Mondays & Wednesdays from 4:30pm - 5:00pm Central BAG BATTLES: Mondays on the OTC Live Show from 11am - Noon Central LIVE on YouTube | LIVE on X | LIVE on tastylive Contact |  Blog  |   Learn If you no longer want to receive our communications, please click here. tastycrypto is provided solely by tasty Software Solutions, LLC. tasty Software Solutions, LLC is a separate but affiliate company of tastylive, Inc. and tastytrade, Inc. Neither tastylive, Inc. nor tastytrade, Inc. are responsible for the products or services provided by tasty Software Solutions, LLC. Cryptocurrency trading is not suitable for all investors due to the number of risks involved, including volatile market prices, illiquid market conditions, lack of regulatory oversight, market manipulation, and other risks. tastylive, Inc., 19 N. Sangamon St., Chicago, IL 60607, United States