Bitcoin has maintained a consolidation around 98,000 to 102,000, and the cryptocurrency giant MicroStrategy has been selected into the Nasdaq 100 index! Trading will start on December 23, and the crypto market is about to enter an accelerated rising phase! Now that it's on Nasdaq, how far can the S&P 500 be? This is just the early stage of Wall Street's entry into Bitcoin; the crypto market will undergo a qualitative leap in the next 3-5 years.
In the short term, the rise of Bitcoin may reverse and suck the blood of altcoins. If this happens, do not be surprised; this is a normal process. Because Bitcoin is a ruler that determines the upper limit of all coins. Only when it breaks through will other small coins respond. Therefore, we can also see that the bull market in the crypto circle is far from over, as the end of the bull market always concludes when the dog coins go crazy. Now many dog coins haven't broken their previous highs, so where does the talk of craziness come from?
Recently, fans have been asking when the altcoin season will explode since Bitcoin has risen so much! What trading opportunities do we still have? Referring to the historical bull market BTC cycle, there is a simple flow of funds before the altcoin season occurs: BTC → ETH → Large-cap coins → Mid/Small-cap coins → Almost all coins start to surge → The bull market ends and enters a long bear market phase. The altcoin season usually presents a typical startup path and generally tends to start from the following aspects: (1) Some innovative projects start to rise first, represented by: SUI (2) Some MEME coins and various air coins then begin to rise, represented by: PNUT/PEPE/VIRTUAL (3) Some undervalued old altcoins continue to rise, represented by: XRP/XLM/TRX/OM (the best representative currency) All altcoins are surging wildly, and the market enters a crazy state (this is also quite a huge warning signal, as the saying goes, what goes to the extreme must reverse) (1) BTC's dominance has pulled back from a high of 61% to around 55%, and there is significant resistance at the 55% position for Bitcoin's dominance.
(2) The altcoin season index has also reached 73, soon to reach the altcoin season indicator of 75.
(3) In the past 90 days, 35 out of the top 50 ranked tokens have outperformed Bitcoin, accounting for as much as 70%! According to our statistics, among the top 50 tokens by market capitalization, only 11 have surpassed their historical highs (including new coins this round). They are: XRP, OM, WBT, TRX, RENDER, LEO, BTC, SOL, BNB, etc. (4) Leading market makers have perfectly timed this market rhythm; almost every time they hit the hot spots, smoothly transitioning from meme fever to value coins to altcoins. Now Wintermute is fully invested in altcoins, with SOL being the largest position, while BTC and ETH holdings have decreased.
So don't hesitate any longer; hold onto your altcoins. We only need to pay attention to Bitcoin's dominance falling below 50% for altcoins to welcome a historic breakthrough and surge!
