Is there any particular reason for Steem being negative because Bitcoin is well in positive zone?
Generally all the crypto market follows Bitcoin but today BTC is moving in positive zone but still Steem has selling pressure and is in negative. can anybody explain why?
I believe that I have seen a few posts about a lot of whales powering down and selling their Steem/SP. Steem is also in the way that its earned and its uses outside of being a tradable currency, and therefore it may stray from the pattern that bitcoin takes.
When we are entering a potentially bullish market for BTC, it's not uncommon for all or most of the coins trading against it to take a hit. I am not a financial adviser, but I can tell you that historically I've seen these trends take place where BTC will lead the way and then the slow down or pause while the alt coins play catch up. It always feels a bit "hurry up and wait" when this is going on, but it's important to remember that things could always change. In the long term I tend to pick either BTC or USD as they are the most common trading pairs for cryptos and monitor my investments against both. When BTC pumps, I tend to expect a hit on my alts, when my alts pump, I don't necessarily expect BTC to rise. This is just my subjective opinion and not investment advice.