Dude quit trying to ascribe reasons. Nobody knows, we have pet theories, maybe they fit the empirically observed phenphenomena, maybe not. You see one too many news sites saying “bitcoin breaks 95k as fed reduces interest rates” and think there’s some formula or magic ball or insiders or something, every article like that is lies and paid propaganda. we don’t know.

We can deduce though, since XMR appears to fluctuate not entirely in lock step with bitcoin, that it’s short term demand changes are not for the same reasons, or by the same people, as bitcoin. My pet theory is that after spikes in btc and ETH and what not, people sell, and a lot of that gets moved through XMR to break the links. That’s been my hypothesis for a few years now for why xmr appears to spike in between bitcoin or ETH jumps, and so my mental model predicts that a spike in btc will often be followed by a spike in xmr, so it’s predictive and therefore should be empirically testable.