Help me with some personal perspective, here.
To me, it seems a little bit like XMR was the catalyst for this entire bloodbath weekend for alts. XMR took that massive pounding on the huge selloff Friday evening. I could be wrong, but it sure seems to me as though at the time, XMR was the only alt significantly in the red. Most of the rest of the leaderboard on Polo was still green until sometime Saturday, and then the selloff was pretty far and wide Saturday night and Sunday.
Am I imagining this?
Does it mean anything that XMR would be the canary in the coal mine?
I think you got things kind of backwards here. If you had been paying attention to the Bologniex casino at all lately, you'd notice all of a sudden you'd have these days where numerous altcoins were all up 15% with the entire board going green. Now we have the same type of days in reverse with them all going red. It seems like there's some type of big money indicies that can't be bothered to investigate any of these coins and just started hedging in them. Now they seem to be reverse hedging for BTC halving. In the past, you never really saw days like this where all altcoins follow each other no matter how bad or good.
Started during the BTC up move in October and has been more or less that way ever since, with a slight divergence during the period of maximum velocity for ETH (ETH was sucking in capital from other alts regardless of what BTC did). It seems incorrect in this environment to try to analyze the movements of any particular alt without understand the backdrop of the overall BTC/alt trend.