Is this bull market really just about BTC?
Where will altcoins go from here?
The rate of $BTC broke new highs and has surged to around 98000 this noon. Why is it that only Bitcoin is rising while altcoins are still showing a downward trend?
Capital is fleeing; in fact, a large amount of capital has already fled around the 90,000 mark. Currently, BTC's rapid increase is draining the blood from altcoins. If Bitcoin continues to rise, altcoins will continue to fall. Only when Bitcoin consolidates will altcoins have the opportunity to rebound. I suggest everyone not to go all in on one coin, but to build positions in batches and manage funds; don't wait for altcoins to explode without any bullets.
This noon, I saw a news brief stating that Bitcoin's surge is due to black gold in northern Myanmar, but I disagree. On the contrary, I place more importance on the fact that old institutions view Bitcoin as a reservoir for the dollar. Currently, it seems that capital and institutions are making regular investments in Bitcoin. The above is just my personal opinion; feel free to discuss your views in the comments?
Not all altcoins are down for the count; the one I recommended yesterday, $FLOKI , is still steadily rising, and other coins I've positioned are also gaining. If you want to follow along, pay attention to me, and I share freely.