Why is Bitcoin rising? It is not because of its so-called gold attribute, safe-haven asset, but because the money from the first point of reducing positions has come out. Only a small part of it is enough to push Bitcoin up. Note that only a small part is needed; they are just allocating, not chasing the rise in FOMO;

For example, I manage a total of 1 trillion US dollars in assets, and now I have withdrawn 200 billion US dollars in cash from US stocks and US bonds, but I don’t feel comfortable holding cash. What should I do? Allocate 10 billion in pie, 20 billion in gold, and 10 billion in RMB. This is probably the concept;

Why is Bitcoin rising so sharply, but the copycats are not improving much? Because the money that drives the rise of altcoins and the money that drives the rise of Bitcoin are two different groups of money. Now only the money from outside the circle that allocates the core asset of the currency circle, Bitcoin, drives the rise of BTC, and there is no money to drive the rise of altcoins; because the outside money will only buy the core of the currency circle, that is, Bitcoin;

The overall rise requires the joint efforts of the market. The current game point is that Bitcoin has set an example; the main funds of the currency circle altcoins will take this opportunity to withdraw directly, or take this opportunity to pull up a wave (the altcoins do not rise) and then withdraw. #比特币突破11万美元 $BTC