The rise in the price of BTC (Bitcoin) has certainly had an effect on the market. With its increasing value, there has been a surge of interest and investment in this digital currency. This has led to a ripple effect on other cryptocurrencies as well, driving up their prices as people seek alternatives to Bitcoin.
Actually when btc adoption increased, it's attract so many new investors, results in the big volume of money entered in the btc. This money doesn't remain in only btc. Investor distributed their money across all major coins which further convert into new coins also. This money circle remain in crypto until btc start dumping because of any bad news and fear index increases. In this period people start exiting from crypto market and this we see big dump in btc and also whole crypto market.
Furthermore, due to its global reach and impact, fluctuations in the price of BTC can also have an influence on traditional financial markets. For example, when BTC experienced a sharp decline in 2018, it also caused stock markets around the world to drop.
So guys what are your thoughts about current situation.
I think btc has not any big effect on global market such as stocks Market. Both btc and stocks market are affected due to war, Inflation and world issue. Generally stock market first start decling and then it affects crypto market also as we experienced in the Ukraine -Russia war