Ever wonder why so-called altcoins appear more sensitive to macroeconomic data than Bitcoin?

According to Matt Mena, a crypto research strategist at the Swiss-based asset manager 21Shares, traders can look to George Soros, the American investor and philanthropist who famously broke the British pound back in 1992.

Soros began developing his theory of reflexivity in the 1950s, and while the trading concept has roots in traditional finance, Mena told Decrypt that it can be applied to crypto as well. Effectively, Soros’ theory of reflexivity centers on feedback loops among investors, where price movements influence their behavior, which in turn affects prices further.

When it comes to digital assets beyond Bitcoin, those with relatively smaller market caps like Ethereum and Solana are more speculative in nature, making them particularly susceptible to reflexive cycles, Mena said. As expectations of Fed rate cuts have driven markets over the

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Author: André Beganski

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