Mid-Month December Report: Traders are Skeptical, Will You Be a Buying Receptacle?

Goofy forced rhyme title aside, times are tough for traders right now! 2022 is at risk of being historically bad for cryptocurrency investors. Bitcoin is -68% and Ethereum at -71% since the start of year. For the vast majority of tradeable altcoins, price returns look a lot worse than these two.

But on the 30-day time scale, things have begun to look eerily similar to months throughout 2018 and 2019, when BTC and ETH essentially were flat and altcoins bled dry:

With the top two respective assets down just -1% and -3% since mid-November, respectively, one may think that altcoins may be split between thriving and diving, as we often see in flat markets. Instead, outside of a few anomalies, alts are undeniably taking a beating. Some assets, like CHZ and XCN, have lost over half of their market caps