Why Is the Crypto Market Red While Bitcoin Smashes $97K?
You’d think $BTC hitting $97K would set off a market-wide rally—but today, most of the crypto market is flashing red. Here’s why:
1. Liquidity Squeeze: A big BTC push like this often pulls liquidity from altcoins. Traders rotate capital into BTC to ride the momentum, leaving alts bleeding.
2. Profit-Taking in Alts: Many alts have run hard over the past few weeks. With BTC surging, investors are locking in profits, causing short-term dips.
3. Dominance Spike: Bitcoin dominance is climbing, meaning BTC is taking up more of the total crypto market cap. Historically, when dominance rises sharply, alts suffer.
4. Market Sentiment Shift: When BTC makes a strong move, especially toward key milestones like $100K, it can create uncertainty. Traders sit on the sidelines or rebalance, causing choppy price action across the board.
In short—Bitcoin is stealing the spotlight, and until it cools down or consolidates, altcoins might stay under pressure. This isn’t a sign of weakness—just how the cycle flows.
