No, They don't print money.
The whole market cap of all coins is standing at 3.41 Trillion dollars (3,410,000,000,000$)
Yes you read the number right.
Back in the days, I saw it at 2 trillion dollar on 2021-2022 season, Now it's almost 1.5x .
So Where does this money goes if not most of tokens haven't reached it's Highest point from previous cycles?
I know the answer.. Bitcoin.
Bitcoin is now a safe haven to high risk investors, big players, hedge funds, and they almost do this in coordination with each other.
They know when the markets will pump and when it will dump and they even take turns in making profits, well, at least most of them as some acts alone.. but trust me, we're in their world.