Ethereum hasn't been good for a few days, and it's back to its original state:
The exchange rate of ETH to BTC has shown no signs of rebounding in the past week, having fallen below 0.034. Upon checking, this is at the price level of 2021. In past bull markets, this exchange rate should have risen, which shows that Ethereum's performance this year is significantly lagging behind, further indicating that the traditional altcoin bull market has not yet arrived, making it difficult for investors heavily invested in Ethereum and altcoins. As the leader of altcoins, Ethereum is performing poorly, and the trend of other altcoins is even less optimistic.
This is the current real situation of the altcoin market. I heard an old brother say that the current market dominance has been taken over by American institutions, which are focusing only on Bitcoin and Ethereum, completely ignoring other altcoins. Therefore, this round of market conditions will not see an altcoin bull market, and I really find it hard to agree with this view.
I acknowledge the phenomenon of large funds focusing on Bitcoin, but altcoins are undoubtedly a key support in the rising process of Bitcoin. Altcoins act as a lever that provides a capital amplification effect for Bitcoin's rise and are also the core force attracting retail funds.
Given the enormous size and high price of Bitcoin, retail investors often hesitate, which is a critical link in Bitcoin's positive cycle. Conversely, when Bitcoin encounters a rising bottleneck, funds will flow to altcoins, helping to initiate a bull market for altcoins and thus attracting more investors to enter the market. The two are interdependent and develop synergistically, as has been the case in previous bull markets, and this time will be no exception.
So, patiently wait, the altcoin bull market will eventually arrive.
