The aggregated crypto market has been incurring major volatility as of late, which has primarily been rooted in Bitcoin\u2019s massive volatility. This bout of volatile trading has led many altcoins to face a significant amount of downwards pressure.<\/p>\n\n\n\n
One analyst is now noting that multiple major altcoins appeared to have front-ran Bitcoin\u2019s latest pullback, signaling that altcoins\u2019 near-term price action may act as an indicator that elucidates which direction BTC will head next.<\/p>\n\n\n\n
The past 24-hours have proven to be quite negative for the aggregated crypto market, as many altcoins are currently trading down 10% or more from their daily highs.<\/p>\n\n\n\n
This latest drop came about after the markets experienced a relatively short period of consolidation while Bitcoin<\/a> traded above its previous support level of $10,000, but it now appears that bears have an edge over bulls as virtually no major cryptos have been able to buck the ongoing downtrend.<\/p>\n\n\n\n Interestingly, Hodlonaut, a popular analyst on Twitter, noted in a recent tweet that EOS was the first cryptocurrency to plummet yesterday, which was closely followed by other major altcoins including Ethereum and Litecoin.<\/p>\n\n\n\n \u201cPretty interesting observation on yesterday’s dump from a friend of mine. EOS dumped super hard before Bitcoin even moved. ETH, LTC and other alts followed suit shortly after, before the big dumping started on BTC. Draw your own conclusions,\u201d he said while referencing the below chart.<\/p>\n\n\n\n