BTC PUMP, But Every other Coin Dumping!!

[Fatemablabla]

For last 2days bitcoin is continuing it's uptrend run. It's close to 12000$ now. But why all the alts are going down? Especially the top alt coins which had a good price before the dump.
For example BnB was 31$ when btc was 11300$ and ETH was on 380$ when BTC was 11400+$ . Now BnB at 28.7$ and ETH at 370$. Any reason for the dump?

[1715181042]

1715181042

[BitMaxz]

It's normal if you see BTC is increasing and altcoin is decreasing it's obvious that more people are trading with Altcoin and Bitcoin pair than trading them with USDT or any stable coin.
All traders right now are smart, what they focus is to trade with altcoin and Bitcoin to multiply the amount. The price movement of Bitcoin/altcoin pair is much bigger compared to USDT or any stable coin.

And actually it just the same as before after block halving altcoin is decreasing(Bear market) more while Bitcoin is keep increased(bull market). But after the Bitcoin bull market and slowly drop in price the altcoin rises. Which is obvious that they share profit to other altcoin or they prefer to invest in altcoin instead of withdrawing them directly due to taxes or restriction/limitation. That is just what I believe before compared to the movement price of bitcoin today is unpredictable and it is not the same as before but if the price of altcoin drop but bitcoin is increasing then it's obvious that they prefer to invest more in Bitcoin(I feel that we will see the price at $14,000 or more soon).

[ryzaadit]

A simple way, you can follow this:
BTC Pump : Altcoin Down
BTC Down : Altcoin More Down
BTC Stable After The Pump/Dump : Altcoin starting to back up again and could be higher than the previous price before the dump happened.

There a few reasons why altcoin dump when we see from the price movement bitcoin. If bitcoin pump the altcoin with bitcoin pair try to adjustable the estimation USD Pair so the bitcoin pair altcoin could be down and make USD estimation still same or down a little bit. If bitcoin down, everyone who holding altcoin try to cutlose their asset before getting more loss.

So the best option to hold the asset, always hold bitcoin more than altcoin because the first asset will move always bitcoin then after bitcoin will be altcoin party.

[Bitcoin_Arena]

For example BnB was 31$ when btc was 11300$ and ETH was on 380$ when BTC was 11400+$ . Now BnB at 28.7$ and ETH at 370$. Any reason for the dump?

Just because there was a price drop, it does not mean there has to be a reason. Sometimes the market just corrects after a previous trend. It's normal
I am going to compare ETH to BTC since ETH has been one of those top altcoins that have been very volatile.

As you can see, after doing well for a larger part of the year, the drop started all the way from the beginning of September on a 1-day chart and not just 2 days ago as you think

[CryptopreneurBrainboss]

If my observation are correct then it seems bitcoin dominance is increasing, few week back it was reported to be dropping that's why most alts recovered but it seem it's increasing back. When the dominance of bitcoin increase it dumps most other coins, as more liquidity are been moved into bitcoin. Lets not forget there was a dump after the $11.8k resistance trading price was broken, it saw the price dump to $11.7k which saw most altcoins dumping massively as when ever there's a dump in bitcoin price it affects the alts more, due to its current bearish state.

Although my explanation above did contribute to the downtrend of altcoins in general, still there are also some significant reason why the coins you mentioned are dumping. BNB just completed it's lottery draw for one of the launchpad project which means those that didn't make they cut will sell off their bought BNB and since this is a regular occurrences, the market is reacting towards this.

In regards to the ethereum observation, it still fits in the explanation of bitcoin looking more bullish as it stands therefore more liquidity are flowing into the bitcoin market, buying off bitcoin thereby increasing the demand and price while alts surfer.

[Quidat]

For last 2days bitcoin is continuing it's uptrend run. It's close to 12000$ now. But why all the alts are going down? Especially the top alt coins which had a good price before the dump.
For example BnB was 31$ when btc was 11300$ and ETH was on 380$ when BTC was 11400+$ . Now BnB at 28.7$ and ETH at 370$. Any reason for the dump?

A simple calculation and economics class would really be enough for you to say that if the other do get some increase and the other side is decreasing then
you can say that people are switching now to bitcoin.Is it really that hard to think on the possibilities or the actual thing that do happen in the current market?
I wont say that it is the exact reason but if bitcoins price tends to rise then most of the time, alt market do suffers or would surely put in reds but there are
times that alts will go along into the current movement of bitcoin.If it increases then it do increase too but most of the time both are going
on opposite paths.So theres no need to panic here yet those decreases are just too minimal for you to get worried.

[nelson4lov]

(...)
Any reason for the dump?

There's no obvious reason for alts dumping since yesterday other than the fact that traders are moving funds back to BTC in order to cash in on the pump. We should already be used to situations like this.

-Bitcoin pumps, Altcoins dump.
- Bitcoin dumps, Altcoins dump even more.

The only time altcoins have a good run is when Bitcoin is stuck in a range. Other than that, it's pretty much the same story every time. As a matter of fact, it's the "normal" around the crypto market. Our best bet now would be to pick up altcoins that have dumped and wait for a relief rally. Bitcoin is approaching the 2020 high resistance.

[crzy]

For last 2days bitcoin is continuing it's uptrend run. It's close to 12000$ now. But why all the alts are going down? Especially the top alt coins which had a good price before the dump.
For example BnB was 31$ when btc was 11300$ and ETH was on 380$ when BTC was 11400+$ . Now BnB at 28.7$ and ETH at 370$. Any reason for the dump?

This is the normal trend of cryptomarket, every time bitcoin pump most of the altcoin are dumping and this happen so many times in the past year beside the dump is not that big so nothing to worry about with your altcoins. If the bull market begin, don’t worry because bitcoin and altcoin will pump at the same time. Good altcoins can recover easily, just keep on holding patiently.

[stompix]

Any reason for the dump?

In a normal world, the reason (motive) would be reason (wisdom).
Normally I would be happy, oh some overpriced shitcoins are dumping while bitcoin is steaming ahead, but unfortunately, I know that once the upward move is done for the altcoins will start again creeping closer. So, if you're hugging some precious coins you'll get your time to dump them at a better price for BTC.

The price movement of Bitcoin/altcoin pair is much bigger compared to USDT or any stable coin.

Now that you mentioned USDT, I looked at the volume, wow, that "thing" has more volume in the last 24h than BTC and ETH combined, the rest doesn't even matter. I'm again afraid to even google or search the forum, is bitfinex printing again?

[samcrypto]

A normal scenario between altcoins and bitcoin and its good to finally see bitcoin pumping again.
I do hold altcoin as well but we are still dependent to bitcoin and if bitcoin succeeded to break the resistance and continues the up trend, the next move for altcoins is also to pump higher after this short dump, this is so exciting so don’t panic at all and see the trend of cryptomarket before while you’re waiting for the altcoins moment to pump.

[jossiel]

BTC dominance in the market has increased to 60.5%. Whenever we see BTC up to and alts down, this is one of the usual markets that we used to see. The two trends like BTC up to and alts up to as well as the other thing but BTC dominance is decreasing if that happens.

In this case, it's many traders are going back to BTC which made the dominance possible. This is not odd and this has been happening, it's just noticeable because the pump is quickly happening. I wish that it goes back faster to $12k. And the normal do of the market, we'll see this cooldown. Maybe after a day or two or even just for hours.

[Jating]

For last 2days bitcoin is continuing it's uptrend run. It's close to 12000$ now. But why all the alts are going down? Especially the top alt coins which had a good price before the dump.
For example BnB was 31$ when btc was 11300$ and ETH was on 380$ when BTC was 11400+$ . Now BnB at 28.7$ and ETH at 370$. Any reason for the dump?

The most logical explanation is that altcoin investors are simply shifting their funds to bitcoin right now that's why bitcoin is pumping to almost $12k, but altcoins is bleeding, and that's always been the case. And that's why you will hear that altcoin is a 'pump-and-dump' market, because once some of these coins could no longer be pump it will go on a massive dump and then the money moves to bitcoin market.

So don't be surprised, this so called phenomena have been seen in the past already. But it could have a devastating effect to altcoin holders though, specially if they think that money will continue to pump the market.

[xSkylarx]

A normal scenario between altcoins and bitcoin and its good to finally see bitcoin pumping again.
I do hold altcoin as well but we are still dependent to bitcoin and if bitcoin succeeded to break the resistance and continues the up trend, the next move for altcoins is also to pump higher after this short dump, this is so exciting so don’t panic at all and see the trend of cryptomarket before while you’re waiting for the altcoins moment to pump.

I hope you're right. I hold 2 altcoins from the top 10 of coinmarketcap and it hurts to see them in their current prices. I was really hesitating to buy that altcoins at first because I'm thinking btc will pump in few months, but since they're really cheap that time I had to buy them. Now here I am waiting for my sell order to be filled on that exchange.

[pooya87]

you are also making the mistake of looking at altcoin's USD value which happens to be dumping now but it usually isn't the case. the altcoins versus USD usually go a little up during bitcoin rises because they get dumped against bitcoin as traders pull out their bitcoin from the altcoin market.

for example over the past 7 days according to CMC, ethereum has gotten dumped about 0.2% against USD while it has been dumped 7.6% against bitcoin. that is because bitcoin price has gone up about 7.4% over the past 7 days.
that is usually the case with big altcoins with high volume, they get dumped nonetheless but their dump is usually slightly smaller than the bitcoin price rise (eg. bitcoin up 10%, eth dump 9%) so the net result could be slightly higher in terms of USD creating the illusion that the shitcoin had gained value whereas in reality it was dumping hard (which doesn't seem to be the case this time*).
for smaller altcoins this is more severe because their dumps are faster so they lose a lot more value. for example if bitcoin went up 10% they get dumped 15%.


* i think this is because more traders are catching up with this trend and realizing that the altcoin dump is inevitable so more of them are cashing out during bitcoin rises hence creating a bigger dump.

[joniboini]

I hope you're right. I hold 2 altcoins from the top 10 of coinmarketcap and it hurts to see them in their current prices. I was really hesitating to buy that altcoins at first because I'm thinking btc will pump in few months, but since they're really cheap that time I had to buy them. Now here I am waiting for my sell order to be filled on that exchange.

Are you new in this space? To be honest this market situation should be expected. If you've been here since at least a few years ago then this should not surprise you. Those alts will come back again and if BTC stabilizes at a high price then it might pump higher than ever. That is what most people called "alt season". Take a look at a few months back, you'll see similar patterns here and there.

[lifeOK]

I hope you're right. I hold 2 altcoins from the top 10 of coinmarketcap and it hurts to see them in their current prices. I was really hesitating to buy that altcoins at first because I'm thinking btc will pump in few months, but since they're really cheap that time I had to buy them. Now here I am waiting for my sell order to be filled on that exchange.

Are you new in this space? To be honest this market situation should be expected. If you've been here since at least a few years ago then this should not surprise you. Those alts will come back again and if BTC stabilizes at a high price then it might pump higher than ever. That is what most people called "alt season". Take a look at a few months back, you'll see similar patterns here and there.

You're correct, this isn't first time we're encountering such movement. At the moment BTC is trading around $12,190 when the rest of the market is down. We just going to head alt season so it shouldn't surprise anyone since the dominant coin is back. Anyway, my anxiety is it's best time to buy alts?

[HatakeKakashi]

Not all time the price of the altcoins to the bitcoin because they have day that they are difference , but most of the movement of the altcoins is same to the bitcoin but not always you okay with that? Depends on how many buyer buy bitcoin and altcoins maybe on that day they have differences happen but be still thankful because both altcoins and bitcoin is not dumping the value.

[slaman29]

For last 2days bitcoin is continuing it's uptrend run. It's close to 12000$ now. But why all the alts are going down? Especially the top alt coins which had a good price before the dump.
For example BnB was 31$ when btc was 11300$ and ETH was on 380$ when BTC was 11400+$ . Now BnB at 28.7$ and ETH at 370$. Any reason for the dump?

Because of fomo? As usual, stocks dip and crypto dips, but people holding all the altbags see Bitcoin reach August high and they of course liquidate alts to buy more BTC. But everyone seems to be recovering again now and Bitcoin is pushing up most alts, even all the Defi ones. Bitcoin is boss as usual.

[cheezcarls]

For last 2days bitcoin is continuing it's uptrend run. It's close to 12000$ now. But why all the alts are going down? Especially the top alt coins which had a good price before the dump.
For example BnB was 31$ when btc was 11300$ and ETH was on 380$ when BTC was 11400+$ . Now BnB at 28.7$ and ETH at 370$. Any reason for the dump?

Once again, it's all about Bitcoin dominance. Back then, most of the altcoins are being influenced by Bitcoin's price spike during the ICO hype last 2017. I believe that the market is more matured right now, it seems that the influence of altcoins to Bitcoin's price is almost no longer in place. However, it feels good for Bitcoin's price to soar past $12k. I would rather choose BTC price growing steadily like a staircase rather than being parabolic.

[Distinctin]

For last 2days bitcoin is continuing it's uptrend run. It's close to 12000$ now. But why all the alts are going down? Especially the top alt coins which had a good price before the dump.
For example BnB was 31$ when btc was 11300$ and ETH was on 380$ when BTC was 11400+$ . Now BnB at 28.7$ and ETH at 370$. Any reason for the dump?

What do you think also the reason why altcoins pump but Bitcoin dumps? Because that case is similar to what it happens now, not surprising since we that sentiment before.

Like to say, investors are trading Bitcoin (so it increase the demand and correlates the price) more than that they'll trade with altcoins ( it drive to lessen the demand as well as the price). Nothing new to this scheme, and it was clear to think how volatile we are.