Traders Selling Ether for Bitcoin, ETH/BTC Down 4% Monday

Bitcoin’s jump over $10,000 might compel selling in the alternative cryptocurrency, or altcoin, market, said Jack Tan of trading firm Kronos Research. “Unfortunately, this might actually suck the energy out of the altcoins and high flying DeFi tokens.”

One asset to watch: The ETH/BTC pair Monday is down 4% on Coinbase as traders are selling ether for bitcoin on the spot market.