Bitcoin price enjoyed a decent rally in January after posting a choppy 2022 following high-profile collapses including Terra Luna UST and FTX crypto exchange. Having rejected $24k for the past five days, the Bitcoin price exchanged around $23k on Tuesday. However, the largest gains have been recorded in the small caps altcoins like Baby Doge Coin, which mostly signifies the end of a cycle.
Furthermore, money circulation in the crypto market is observed to move from large caps to small caps later. As such, on-chain intelligence firm Santiment has warned crypto traders to take extra caution with bear traps in the coming weeks.
Source: https://coinpedia.org/bitcoin/can-bitcoins-price-skyrocket-with-increased-on-chain-activity-heres-a-closer-look/