If you truely want to understand why altcoins dont move carefully read and learn:
1st reason $ETH is constantly losing strength against $BTC
if you check this chart you will realize that 2021 altcoin bull started with eth rally
and since 2021 ethereum losing strength against bitcoin due to reasons as:
- Vitalik wandering around with his girlfriend instead of development
- Eth network still has absurd gas fee
- Ethereum foundation keep selling ethereum at every price, they constantly selling ethereums
There are more algorithm trades than normal retail trade executions and many of these algorithms trades according to bitcoin dominance, ethereum dominance.
Therefore, they are keep selling/shorting at every altcoin increase since ethereum dominance is weak.
Thats why you might be feeling as “it feels like a hand doesn’t let altcoin market to move up”
2nd reason Solana $SOL ecosystem steals volume from normal altcoins
a lot of retail traders noticed that many altcoins in crypto exchanges are at the hands of Venture Capitals. These VCs keep selling their seed bought altcoins at every price and creating selling pressure. Therefore, a lot of degens moved their assets to DEXs and trading tokens there. This also caused significant volume loss in normal altcoins.
3rd reason CEXs listing a lot of altcoins
since CEXs listing new coin almost once in every 2 weeks, money in the altcoin market gets seperated and seperated…
as you can see on the TOTAL3 chart currently altcoin marketcap reached 2021 ath, however most of altcoins are still so far away from their 2021 aths, thats because of a lot of new coins, tokens are listed + sol ecosystem steals volume
so money inside altcoin world are seperated to more coins thats why they don’t increase as previous bull runs
How this doomed cycle can be broken?
a game changer shows up here which is $XRP my opinion is with XRP’s incredible increase people might see it as new altcoin leader. And once ethereum dominance algorithms don’t give profit to algo altcoin traders, they will have to improve their systems depending on XRP instead of ethereum dominance.
another thing is CEXs as Binance and other CEXs should stop listing new coin/tokens very often.
All these new listings causes volume to be seperated between more altcoins
I hope now you clearly got why altcoins aren’t increasing even when Bitcoin reached 100k
