I will post this in lesson because this is something that the could enlighten cryptocurrency traders: There used to be a time where in BTC peaks the ratio of people selling BTC for fiat was way higher than the ratio of people selling fiat for BTC.
This is now changing. We are in a shift in which people in crypto know that the incoming fiat into BTC is now going retail even more than ever, and now when retails pump the price up and some weak hands sell their alts and we have a little red day (it's already reversing so those who sold well, lesson here), now BTC afficionados are confident they can sell their BTC for cheap alts.
For those who don't believe me, just type Bitcoin in Google News: When dear CNBC is telling people that BTC is the now a super edge for their portolio, that's ton of fiat money coming into the crypto sphere through BTC. Hence the scenario is changing:
1) Before: Fiat into BTC, BTC up then BTC back into fiat. Hence equation : Fiat - BTC - Fiat.
2) Now: Fiat from a widening (and viral social behavior of get rich quick scheme is a strong psychological driver in modern society so it spreads FAST) base comes at high speed into BTC. Then that money, through purchase of alts, is funnelled into the cryptosphere. So now the Equation: Fiat - BTC - Alts - BTC - Alts - BTC - Alts - etc.