Why is Bitcoin resilient while other coins plummet?

At times of extreme volatility in the cryptocurrency market, Bitcoin (BTC) often demonstrates remarkable stability, whereas other altcoins fall like a row of dominoes. This phenomenon is not coincidental but is the result of multiple factors working together.

First, Bitcoin has the strongest consensus foundation. It is the pioneer of the crypto world, regarded as 'digital gold', and possesses safe-haven attributes. When market confidence wavers and risk assets significantly decline, substantial funds flow from high-risk altcoins into Bitcoin, thus supporting its price floor. This 'Bitcoin inflow' mechanism makes it a true anchor in the crypto space.

Second, Bitcoin's deflationary model and immutability make it more like a store of value rather than a speculative asset. In contrast, many altcoins have unlimited issuance and arbitrary changes in mechanism, lacking scarcity and credibility. Once the market turns bearish, these coins lose their support points, and a crash becomes inevitable.

Third, institutional preference and regulatory recognition provide a moat for Bitcoin. Whether it is MicroStrategy's continued accumulation or traditional financial giants like BlackRock and Fidelity launching Bitcoin ETFs, they are building a legitimate financial ecosystem dominated by Bitcoin. Other coins, on the other hand, are often viewed as securities or illegal tokens within regulatory frameworks, facing suppression and delisting risks.

Finally, Bitcoin has a higher degree of decentralization. It has no foundation, no founder controlling it, and cannot be easily manipulated, which is particularly important in the increasingly important 'anti-censorship' crypto world. Many altcoins are behind the scenes with project teams, VCs, and market makers colluding to exploit investors; once the market becomes aware, they naturally flee.

In summary, Bitcoin's resilience stems from the fact that it has long transcended being just a 'coin' and has become a symbol, a safe haven. Other coins, for the most part, are still stories, speculation, and bubbles; once the wind stops, they will inevitably collapse.