Bitcoin has broken through to 97, charging from yesterday's position of 91.
But there is a phenomenon?
Why is only Bitcoin soaring in the entire market, while other major coins are barely moving, or just shifting a little?
Most importantly, why is there no movement in altcoins, and why have they been continuously declining?
Isn't it said that altcoins follow Bitcoin? Why is Bitcoin soaring while altcoins are still falling?
That's because all the institutional funds are rushing towards Bitcoin. What is their purpose in doing this?
With the current change in the U.S. presidency, Trump has taken office.
Currently, the U.S. dollar has become rampant, and with the support of the new president, Bitcoin can be used to combat inflation.
Supported by companies like Tesla, PayPal, etc., expanding Bitcoin's payment scenarios makes it a mainstream method.
Most importantly, Bitcoin has the potential to become a reserve asset in most countries in the future, providing convenience in international transactions.
All institutions know that the U.S. supports the promotion of cryptocurrency development, making Bitcoin a high-value economic asset.
So this is one of the reasons funds are flowing towards Bitcoin.
During this period, altcoins will not experience a significant rise; the bull market for altcoins will only occur when Bitcoin breaks through the 100,000 mark, or when there is a significant pullback in Bitcoin; otherwise, altcoins will not show any movement.
Finally, I wish everyone caution when entering altcoins.