This round of the bull market presents several obvious characteristics:
Bitcoin dominance, altcoins weak: Apart from Bitcoin maintaining a strong performance, other cryptocurrencies generally show weakness. Most altcoins have experienced wide fluctuations in their rise, but with poor sustainability; market enthusiasm usually struggles to last beyond a few weeks, reflecting a scarcity of funds and fluctuations in investor sentiment.
Lack of fresh capital injection: The sluggish macro environment has made it more difficult for new investors to enter the market. Due to economic pressures, many investors have relatively tight funds, leading to insufficient market liquidity, which causes a tug-of-war between buy and sell orders, lacking the push of a large amount of fresh capital.
Lack of innovation, absence of narrative driving force: This round of the bull market lacks new technological breakthroughs or innovative concepts that can lead the market. Without new “narratives” or strong market themes to stimulate investor interest, the entire market has fallen into a repetition of past patterns, with no new direction to attract widespread attention and investment.
Market maturity, sovereign countries incorporating cryptocurrencies into strategic reserves: As the market gradually matures, cryptocurrencies are gradually entering the strategic reserve phase of some sovereign countries, a process that has already been acknowledged to some extent. There is a general recognition of the potential of cryptocurrencies in the global financial system, but at the same time, it means that the opportunity for quick profits like in the past can no longer be enjoyed in the short term; the window of opportunity seems to have closed.
