NASDAQ 100, last month + 8%, last year +60%
S&P 500, last month +6.4%, last year +47%
Bitcoin, last month -4%, last year +639%
Since the start of the COVID (in practice) to now, most indexed have exceeded their average returns, not to mention bitcoin. A movement such as this is a consequence and it may still be followed by more falls without meaning anything other than a profit taking and some caution around the ATHs.
One factor in defining price movements is to identify which demographics comprise the largest chunks of purchasing/selling volume. If the NASDAQ increases 8%. Is the largest chunk of buyers composed of retail investors, hedge funds, banks or other parties?
This is a key question most casual traders and investors cannot answer. They would not know where the majority of capital fueling 8% in NASDAQ gains came from. This makes it difficult to predict what future price moves will be.