$BTC is continuously benefiting, Trump plans to establish a dedicated cryptocurrency department and may even appoint the Coinbase CEO as Treasury Secretary. BTC is surging, reaching over 97,000!
But is this a bull market for BTC alone?
Bitcoin's overall market cap share has now reached 60%. According to the data from the last bull market, once the share reaches around 67%, altcoins will collectively explode. Based on this data, it looks fast; if nothing unexpected happens, it should be around mid-December.
After Bitcoin's new high, there was a slight drop, and altcoins collectively cried. The current market situation is painful; Wall Street funds only buy Bitcoin, while American retail investors only buy on-chain memes, and mid-tier altcoins are temporarily abandoned by the market.
Bitcoin is healthy, whether on a 4-hour or daily chart. There is no reason or motivation to pull back before 100,000+. After all, the daily chart has just begun, so let's wait slowly. When we reach 100,000+, let's see if it can inject some confidence into altcoins. As long as market confidence returns, they will collectively scream again.
Altcoin trends:
ETH often launches later than BTC, but once ETH explodes, the increase could reach 30-50%, and we will be close to cashing out. Most altcoins should start to plan their exits at this time.
Overall, altcoins are performing mediocrely, and the total market cap has not significantly increased.
Currently, only a few points can break through, and altcoins on CEX are likely to take off:
The first condition is definitely Bitcoin breaking 100,000 and being able to stabilize above 100,000 for more than two weeks.
The second condition is the approval of Ethereum's staking ETF, and off-market funds begin to focus on Ethereum's ecology and other blockchain native assets.
The third condition is the relaxation of cryptocurrency regulation, leading to another wave of major innovations on-chain, similar to the DeFi summer of previous years. It would be best to see a few killer applications emerge, turning capital assets from a defensive stance to an offensive one, reopening financial leverage.
If two of these three conditions are met, then the altcoin bull market we are familiar with will return!
Several sectors worth watching:
- Bitcoin-related sectors, covering inscriptions, runes, and projects like STX. The rationale for being optimistic about these projects is Bitcoin's strong performance, and its value is likely to spill over into other projects within the Bitcoin ecosystem.
- Solana ecosystem sector, including $JTO, $JUP, $RAY, and other tokens. The Solana ecosystem has strong institutional support and a prosperous development trend, making holding Solana highly cost-effective, and these tokens are expected to perform excellently.
- Meme sector, including lowercase Neiro, goat, hippo, and Pepe projects. The meme theme is expected to run throughout the bull market, and while market heat will continue to rotate, discussions and attention on meme themes will be eternal. These projects have huge growth potential due to their unique cultural phenomena and market appeal.
➜ $STRX
- Blockchain solutions, DeFi, and tokenized assets.
- Focus on bridging finance and Web3 for organizational authorization.
- Committed to leveraging the transformative potential of blockchain.
➜ $RAY
- Raydium is an automated market maker (AMM) based on the Solana blockchain, providing users with a central limit order book, supporting fast trades, liquidity sharing, and allowing users to earn profits.
Raydium has greater potential than Uniswap. It can generate more fees and token revenue and is eager to share these profits.
- However, from a longer time frame perspective, I believe RAY is still severely undervalued.
➜ $NEAR
- The NEAR protocol is a blockchain platform that provides developers with efficient development of decentralized applications. Its innovative Nightshade sharding technology greatly enhances the system's scalability and performance, allowing users to enjoy the advantages of centralized data storage on a decentralized network.
- NEAR has always been working hard as an AI L1. In addition to AI, NEAR also has leading technology in chain abstraction and may become the next hotspot.
➜ $STX
- Stacks is the largest Bitcoin Layer 2, recently completing the Nakamoto upgrade. The most intuitive feeling is that the block generation speed has significantly improved, and scalability has been enhanced.
- The upcoming decentralized Bitcoin asset sBTC provides a technical foundation. sBTC will unlock billions of dollars in Bitcoin capital, injecting liquidity into Bitcoin DeFi on Stacks.
- Stacks network TVL has grown from 50M at the beginning of the year to 120M, while the Stacks ecosystem will support a professional team with 20 million dollars for core development, accelerating ecosystem construction.
➜ $ADA
- As one of the representatives of third-generation public chains, ADA stands out with its rigorous academic research background and incremental development model.
- Cardano adopts the pioneering Ouroboros proof-of-stake algorithm, aiming to build a sustainable ecosystem that meets regulatory requirements.
- With the improvement of Cardano's smart contract platform Goguen phase and the subsequent Alonzo hard fork upgrade bringing DeFi prosperity, ADA will continuously provide power for its explosive growth in the next bull market while enhancing its underlying infrastructure.
