Bitcoin market is overall a very new market. If you do analysis, it looks a lot like fiat market at the time when there was no computers. There is a flat simple reason. Most of the cryptocurrency market just doesn't have enough education in finance. Not even enough to know what is "bulls and bears", and why putting attention on major news source to things like "bitcoin has terrific environmental impact", "bitcoin is a Ponzi scheme" and "the rapid increase of exchange rate is due to some scheme with Tether that we won't properly explain to you" is a hugely profitable thing.