Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

what's up with the ETH? why this pump?

Traders may just have decided it is time to pump ETH. OTOH since many alts are going up I rather think it is diversification: people who own more bitcoin than they feel comfortable holding through a bear market are moving some to alts.

... As if a Bitcoin bear market wouldn't affect altcoins greatly.

I think it's also possible that if people are anticipating a major market downturn and want to cash out to fiat and have large holdings on exchanges that do not offer non usdt pairs that they are buying eth as it will be faster for them to move that value to an exchange where they can actually perform a bank transfer.