Does anyone have a good theory for why crypto is weathering this market crash so well?

Ok, this is the most compelling explanation I've found. Most of the market drawdown is institutional right now. Retail is staying in. BTC and crypto are largely retail-held assets which is why they have been resilient so far.

Retail doesn’t seem to have capitulated yet.

Here is a few signs:

- When serious deleveraging occurs and margin calls hit, literally any asset gets sold to raise cash and meet these margin calls. Gold is a very institutionalized asset class and on Friday it showed some signs of

Ok, this is the most compelling explanation I've found. Most of the market drawdown is institutional right now. Retail is staying in. BTC and crypto are largely retail-held assets which is why they have been resilient so far.
https://warpcast.com/shantmm/0x843adf9e
https://x.com/MacroAlf/status/1908464315788922886