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 what I can share to you mate.
When Bitcoin price goes up while alts are going down, that means volume or money are transferring from alts to Bitcoin. Traders/ Investors are eyeing Bitcoin and are selling their alternative coin holdings for Bitcoin.
When Bitcoin price goes down while alts are going up, still the same, trader/ investors are selling Bitcoin to buy alts. Just exchange of assets inside the cryptocurrency marketcap.
When Bitcoin Price goes down while alts too, this is a bad scenario since it depicts that traders/ investors are selling Bitcoin or Alternative coins to get out from the market commonly known as Bear Market.
When Bitcoin and alternative coins price goes up this represents that new money are coming in inside the market and represents Bull Market.
This is a summary that I can share to you mate. Whatever happens, always do risk management in trading and investing.