Chainlink made us feel "good" as one of our most essential themes played. Specifically, don't chase altcoins that have already rallied a lot. In particular, we noted that a rally to the 23% of the recent down move in any altcoin is likely just a bear market rally.

With Chainlink, we can see that people FOMO'd in above the 23% only to see prices come back, creating an ugly candlestick .

Bottom Line: In general, the decline in altcoins may be hurting big miners. We wonder if that is what drove the recent sudden drop in BTC and ETH.

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