Oh dear, this market rhythm is again one where BTC (Bitcoin) hits a new high, while altcoins repeatedly hit new lows, but this is actually considered a normal phenomenon.
Generally speaking, Bitcoin reaches its peak more than a month earlier than Ethereum, after which funds will flow back into the altcoin sector, and then altcoins will collectively explode. You see, this was the case in 2017 and 2021.
That period was truly torturous, everyone was complaining about Ethereum and altcoins every day.
But after about a month, altcoins took off across the board, and the surge was simply terrifying, with multiples of dozens of times in price increases. This is actually the law of fund circulation, just like the flow of funds during interest rate cuts, which certainly first rush into struggling stocks, and then divert to other investment-worthy targets, all in a descending order from large to small.
Yesterday, MicroStrategy issued 2.6 billion convertible preferred notes, and they plan to use this money to purchase Bitcoin, resulting in a significant stock price increase. Then they continued to pledge notes to buy Bitcoin, like stepping on the left foot with the right foot, which drove the stock price up all the way.
Bitcoin didn't drop much, but altcoins fell quite badly.
I hope everyone can endure this difficult time together. After all, we've already gotten through the tough days of consecutive declines in the previous seven months of April, May, June, July, August, September, and October, so this time will definitely be no problem!
