Bitcoin is rising, will the altcoin season come?
If the upward trend continues, the altcoin season may only be a season for a few coins. The underlying reason is the flow of funds. Only when the profit-taking in Bitcoin begins will there be funds flowing into altcoins. It can be understood this way: when the manipulators pulled up the price in 2021, most of the funds had already flowed into Bitcoin. As Bitcoin rapidly rose, if the manipulators did not sell Bitcoin, altcoins would not receive funding support; if they sold Bitcoin, it would retrace, and the retracement of altcoins would be even more severe.
However, once the manipulators start selling Bitcoin, that is when the altcoins will experience significant losses, and it will also be the best time for us to enter the market. This week, Federal Reserve officials will speak, and the October CPI, PPI, and retail sales data will also be released, which will directly affect expectations for interest rate cuts in December. Powell stated that the pace of interest rate cuts will be adjusted based on economic dynamics and will ultimately trend towards a neutral interest rate. Specifically, CPI data will be released on Wednesday, PPI data on Thursday, and retail sales data will be the focus on Friday.
