Ether, Altcoins Tank With Bitcoin as Decoupling Narrative Goes Up in Smoke

Ether, Altcoins Tank With Bitcoin as Decoupling Narrative Goes Up in Smoke
The developing narrative of ether and alternative cryptocurrencies, or altcoins, decoupling from bitcoin in an adverse macro environment went up in smoke on Friday as a sell-off in stocks and the largest cryptocurrency caused extensive damage to the broader crypto market.Bitcoin fell to a five-month low of $38,300 during the Asian hours, an 8% slide on a 24-hour basis.Ether, the second-largest cryptocurrency, tanked 10%, printing lows near $2,800. The convincing move under $3,000 saw some traders book bearish option strategies, Swiss-based derivatives analytics platform Laevitas said.While binance token slipped 10%, native tokens of Looping, Yearn Finance, Compound and Aave fell…