A widely followed crypto analyst is diving into why some altcoins are defying the overall market downturn and breaking out against the trend.
Crypto trader Michaël van de Poppe tells his 666,600 followers on the social media platform X that some altcoins have even gone “3x” during the market tumble.
“Massive breakouts on altcoins as some are already pulling a 3x!
We can’t deny the fact that altcoins are showing some momentum. The majors aren’t following through, Bitcoin isn’t following through, but small caps are providing some momentum.
How can you trade those?”
To help illustrate his answer, Van de Poppe uses a perpetual swap contract, or PERP, as an example. Perpetual swaps are financial instruments that enable traders to speculate on the future price of an