If you check the Bitcoin Dominance, you can see that Market Cap has been moving into Altcoins. It looks like we are in a Wyckoff Distribution Phase D, and what appears to be happening is Altcoins are getting pumped, retail is FOMOing into Altcoins from Bitcoin (in a chase for volatility). Institutions are filling the retail buy orders for Alts and and distributing the Bitcoin they received in the current range for fiat with minimal slippage. Honestly the elegance of the operation is a thing to behold.

On my side, I'm expecting Bitcoin to take a significant dive within the next two weeks (more likely this week) as the final Wyckoff Distribution Phase plays out. Not sure if the Selling Climax finishes at $8,600 or somewhere closer to the $7,700 mark, but it should be significant.