Now the market is exactly what you would expect. People earned money on various defi tokens. As soon as their tokens began to fall in price, people began to sell them and place their capital in the most secure and stable coin - Bitcoin.
This might be the case now as we can see that bitcoin is climbing up consistently the reason why some investors are thinking that we are heading to bull.
Well its too early to say, but I do hope before this year end another bullish market happens. So despite of the bad things of this year that affect each of us and the economy there's a good thing that can cheer us up.
Yes, bitcoin is moving up, but what happens to the market, everything goes down again. Every time bitcoin starts any movement, altcoins immediately begin to fall. I am more and more inclined to have 80% bitcoin in my portfolio and the remaining 20% altcoins, half with ether. Most likely, the market is now sinking under the pressure of bitcoin growth, perhaps funds are now being transferred from altcoins to bitcoin, so we see such a situation.