Yesterday's selloff was ugly.
$2T wiped for US Stock Market and BTC down 20% after jobs data came in stronger than expected at 172,000.
A stronger-than-expected economy can increase inflation pressure, reducing the likelihood of Fed rate cuts.
But there's one major bright spot.
Alts are holding extremely well relative to BTC.
Keeping in mind that ISM Manufacturing just hit a 4-year high, New Orders are accelerating, the economy remains strong, and the Clarity Act is still working its way through the system.
If this is simply a rate-driven correction rather than a deterioration in fundamentals, markets could stabilize quickly.
And if capital rotates back into crypto, it looks like its rotating into Alts and could be explosive.