What is the next step in the market?
Current market sentiment indicates that the upward trend of Bitcoin has not yet peaked. The recent sideways consolidation seems to be a brief pause, but the price of Bitcoin is likely to continue rising and break through historical highs. Historically, Bitcoin's price fluctuations show a clear cyclicality. In previous bull markets, Bitcoin has experienced multiple 20%-30% corrections, after which it always rebounds quickly and ultimately reaches new highs.
As for altcoins, they may be facing the end of a bear market. With the weakening of the dollar and increasing expectations of market liquidity, altcoins seem to be gathering upward momentum. If we compare the current situation to December 2020, when altcoins experienced a 30% drop followed by a three-month rebound with an increase exceeding 400%. Recently, altcoins have also seen a decline of about 25%, which, based on historical experience, could be a signal of an impending breakout.
