Cryptomarket questions

I have two questions regarding cryptomarkets, any input appreciated.

  1. People tend to think that as soon as the total market cap (ie coinmarketcap) increases it means new fiat is coming into crypto. While that may often be the case, the cap is not a certain sign of this as the cap is just price *no of coins and price just resembles what the lowest current seller / highest current buyer asks/bids. What would a more certain sign of more fiat entering be? Increased volume?

  2. People also tend to say that if the closing price is this and that then this is a sign of this and that. What on earth is a closing price in crypto when all the exchanges operates 24/7?

submitted by /u/18boro
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