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Why is Bitcoin not rising (Why is Bitcoin rising but other coins are not rising)?

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Why is Bitcoin not rising? Why is Bitcoin rising but not other coins? This is be

Why is Bitcoin not rising (Why is Bitcoin rising but other coins are not rising)?

Why is Bitcoin not rising? Why is Bitcoin rising but not other coins? This is because, from technical indicators and market sentiment analysis, it can be seen that the price of Bitcoin has dropped below $9,000 in about a week’s time. However, due to recent large fluctuations, many other cryptocurrencies have also experienced significant declines in their prices.

Let’s take a look at Bitcoin’s recent performance:

1. Overall, it has shown a relatively strong performance this week.

2. Compared to the same period last year, it has grown by over 200%, indicating institutional investors entering the market.

3. The rebound after Bitcoin’s halving has been relatively weak.

4. It has continued to fluctuate and rise since the beginning of this year.

5. After breaking the $6,000 level, it has experienced a slight decline.

6. Looking at the BTC/USDT daily chart, there is still a significant upward trend despite the small increase.

Why is Bitcoin rising but other coins are not rising

According to media reports, there are two reasons why Bitcoin is rising while other coins are not. First, since the end of last year, apart from Bitcoin, other cryptocurrencies have performed well. Another reason is that the price of Bitcoin has already exceeded $20,000 since the beginning of this year. However, the current situation is the opposite – in a market that is generally bullish, many altcoins have not kept up the pace and have instead directly fallen to their historical lows for consolidation and rebound. From a fundamental perspective, the rise in Bitcoin is mainly influenced by the US economy, but it has less effect compared to gold. This indicates that people’s attention to investment assets is increasing, and investors are becoming more cautious, among other reasons.

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