Good afternoon, brothers! Before we know it, Bitcoin is about to hit 100,000. It is obvious that as Bitcoin gets closer to the 100,000 mark, other coins are gradually rising. Among them, Ethereum surged more than 300 points yesterday, with an increase of over 10%. As a result, many coins are starting to rise, which is a good sign.
As of now, Bitcoin has reached a new high, strongly breaking through 99,000, reaching 99,347 USD. It seems almost certain that it will break 100,000 this month.
In this market, I have only seen this kind of situation in 2017 and 2020. The market conditions then were similar to now, with Bitcoin attracting a lot of capital, while other coins performed relatively weakly, until Bitcoin's dominance gradually weakened and other coins began to follow suit. Therefore, seeing Bitcoin draining capital while other coins lag behind doesn't particularly concern me; I will wait patiently for the right moment. I have a feeling that BNB is building strength, and an explosion is just a matter of time. It may currently be slightly rising along with the larger trend while accumulating strength.
Talk about your views on Ethereum, the second largest.
The first is the ETF open staking. Although the yield is not high, it is still a significant temptation for large finance. Moreover, as the yield of old US bonds continues to decline, ETH staking will become increasingly attractive.
Another thing is to wait for the capital to flow back into Ethereum and for its rebound, but that’s all in the future. The main rise is likely in the later stages. For those currently holding, waiting is a kind of torment. As for what to do now, we don’t need to be overly concerned; at least for now, there are still several better options.
The second point is that Ethereum is still the king of all chains, representing the technical applications of the entire cryptocurrency world: the leader is the industry's largest cornerstone. As long as it stands firm, our cryptocurrency world will not collapse. The role of the second place is to explore new territories.
Still, it’s worth mentioning that just because it’s not working now doesn’t mean it won’t work forever. If it’s unclear, it’s just unclear, but when it shines, especially when Bitcoin is stable at a high position, the market that has been criticized will have a big green bar responding.
Possible future market movements:
The meme sector, which previously saw hot coins on centralized exchanges, is now undergoing its first wave of corrections, with Pnut Act Ban and others adjusting. After the adjustments are completed, the market will refocus, and a rebound is likely. This bull market is meme-led, so it's still important to pay attention to meme opportunities.
Besides memes, there are also quality leading projects related to DeFi, such as Uni, Aave, Ldo, Eigen, or public chains like Sui, Apt, Aavx, Icp, etc. As for other sectors, we need to observe slowly.
Bitcoin is about to break through the 100,000 USD mark. Once it breaks through and stabilizes for a period, the altcoin season will fully explode. Therefore, the only thing we can do now is to hold onto the tokens in our hands and wait for them to rise.
According to historical patterns, when Bitcoin rises to a certain extent and then consolidates, it is the happiest moment in the cryptocurrency world:
First, a smooth transition and capital transfer leads to Bitcoin's lateral adjustment (10%), with funds moving to the altcoin market, starting with large market caps, and then flowing through step by step.
Currently, we can see that the long-standing second place, ETH, and the stagnant BNB are showing some signs of movement.
Second, a large spike in Bitcoin (20%), then up 10%, consolidating or steadily rising, resulting in a violent launch of altcoins.
Third, in a bull market, focus on several different threads of altcoins. Sell the ones that rise the most and buy the ones that fall the most, rather than doing the opposite.
Is the return of the altcoin season hopeful?
In the past two days, even the long-criticized ETH has risen. As long as BTC stabilizes for a period and does not drain, the altcoins' party will begin. How could there not be an altcoin season? Behind every altcoin on the BN is an eager market maker.
From the data, the CMC cryptocurrency altcoin season index currently shows 27/100, indicating that the market is still primarily dominated by Bitcoin, and altcoins are far from fully entering a dominant position. However, the trend over the past 7 days is worth noting, as the index has gradually risen from a low point on the 17th, significantly jumping to 28 on the 21st, showing that market interest in altcoins is recovering, and the bull market is gradually moving from the first phase led by Bitcoin to a second phase of market-wide gains.
