Before, Musk mentioned 5 dogs on social media, which might be one of the reasons DOGE became one of the most stable cryptocurrencies after APE. Many are curious why, after Bitcoin (BTC) rises, other cryptocurrencies also follow with significant volatility. Here’s a historical pattern worth remembering: at the beginning of a new market cycle, Bitcoin usually rises first, and once Bitcoin stabilizes, it’s time for other altcoins to perform.

#Is BTC about to challenge the $70,000 mark?

Over the past weekend, Bitcoin has been fluctuating above $68,000, and after 6 AM today, it surged again, breaking through the $69,000 mark, just a step away from the previous high. October has clearly become the dominant month for bulls, especially with the approaching U.S. elections and escalating regional tensions, all providing a “great opportunity” for safe-haven assets. As mainstream cryptocurrencies like Bitcoin gradually stabilize, the Meme coin sector is quietly rising. Yesterday, KOL Murad in the Meme coin field posted on social media saying, “The secret to getting rich in the current cycle is to buy top Meme coins and hold them. It sounds simple, but it’s not easy in practice. You’ll be tempted by trading, possibly selling when prices drop, and then re-buying. You might be tempted to sell when prices decline, or sell too early. Bitcoin’s market dominance has reached its highest level in three years, and Meme coins will flourish.

Looking back at Bitcoin’s market dominance, according to TradingView, the current market share of BTC.D is 58.9%, the highest level since April 2021. At the beginning of 2021, Bitcoin's market share began to decline from a high point, experiencing a significant adjustment in April, then rebounding strongly in July. In September 2018, BTC.D's market share first broke through 58.9%, and although the price was still sluggish at that time, with the continuous rise of BTC.D, Bitcoin eventually emerged from the trough.