/biz/ - Business & Finance

> No new money is entering Binance at this point

This has been the case after the first big leg up actually.
The market has only been moving money from alts into Bitcoin, but the market cap has been fairly stagnant.
The lack of new money flowing into the market is making me doubt the validity of this climb a lot. It seems like the whales just pumped up the price initially and people slowly started to transfer their alt money into BTC making it grow. Could also be people exiting Tether that is hiking the price, but this doesn't seem like a legit bull market to me at all.
If during the next drop the market doesn't heavily transfer money back into the alts, we're going to see them punch far lower than where they currently are.

I doubt it.
Bitcoin is punching into new highs but the market cap isn't going up with the price.
If you look at the market cap excluding Bitcoin it's looking like crap.
There's something really fucky going on with this market and I don't trust this climb at all. There's not enough new money flowing into this.
It's probably just people selling their alts for Bitcoin and then some group of whales jacking up the price. Or maybe it's caused by people exiting Tether which is pumping it or something.
Which ever the case the market caps look way off to me for this to be a legit bullrun.