as we see, the price of Bitcoin starts to grow and soon the price of Bitcoin will reach $ 6000 or even more than that, but what is happening now is the price of other cryptocurrency does not increase when the price of Bitcoin increases, because usually the price of other cryptocurrency will increase also when the price of Bitcoin increases, so what do you think is happening now? does the price of Bitcoin not affect for the price of other cryptocurrency again?
I think the main reason is that, people are pulling their assets from Altcoins and dumping it to Bitcoin as it is increasing. When Bitcoin starts to drop, we might see people who will pull out from bitcoin and dump their assets to alts.
Outside tether and some other few coins, I don't think that people are pulling out of altcoin to bitcoin. As at this 7 am that I checked prices the market capitalization has add around 2 billions dollars since yesterday night and this funds came from fiat currency. It is good we understand that we are in bullish sentiment and people are jumping into the market from fiat community. I think other coins are going to benefit from the bitcoin when bitcoin started to make some corrections on it ways up.