Why is Bitcoin still dominant? And why are altcoins moving slowly or stagnant?
Let's think a little like a market maker...
Bitcoin is currently the "media face" of cryptocurrencies.
When the market wants to show strength and safety, it focuses on Bitcoin.
So when liquidity is pumped into it, the media talks, confidence rises, and new people enter.
If we think like a market maker, we will discover that the plan is going well... but it may involve more than one scenario at the same time.
The first scenario (the one everyone sees):
Gradually raise Bitcoin, attract liquidity from short liquidations, and people enter with confidence.
Then, when it reaches a strong resistance area,
it cools down, and starts distributing liquidity to selected altcoins.
Everyone wins, the market is happy, and the market maker clears above.
But there is a second scenario... smarter... calmer... and a little riskier:
The market maker may intend to clear some long positions as well!
But not with a big crash, no... with a calculated and studied correction.
Why? Because:
1. To balance between short and long, and not let the market explode quickly.
2. To create an ideal environment for a strong rise for some altcoins, where he actually intends to pump liquidity.
3. To keep people confused between "Has the rise ended?" or "Is this a buying opportunity?", and in this confusion, he works quietly.
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In short:
What is happening might be a preparation for an altcoin season,
but in the market maker's way: he wants to profit from everyone... even from those who think they understand the plan.