If it was said before that it was normal for altcoins to drop when BTC pumped, this time it's the altcoin leader ETH that has been crazily pumping. Unfortunately, most altcoins have barely moved, including many blue chips like Aave, Uni, and Ena, not to mention that retail favorites like Pnut and Moodeng have not only failed to rise but have also dropped.

On the contrary, several cryptocurrency stocks in the US stock market have tripled in the past two weeks.

I genuinely feel that liquidity has been absorbed into the US stock market. This wave of ETH pumping is not driven by funds from the crypto space but rather by funds from within the US stock market (and the crypto space is handing over chips to Wall Street).