Bitcoin is consolidating around 98,000 to 102,000, and the giant in the crypto sphere, MicroStrategy, has been included in the Nasdaq 100 index! Trading will begin on December 23, and the crypto sphere is about to enter a period of accelerated rise! Now that it's on the Nasdaq, how far can the S&P 500 index be? This is just the early stage of Wall Street's entry into Bitcoin, and the crypto sphere will see a qualitative leap in the next 3-5 years.
In the short term, the rise of Bitcoin may reverse the flow of funds from altcoins. If it happens, don't be surprised; this is a normal process. Because Bitcoin is like a ruler that determines the upper limit of all coins. Only when it breaks through will other small coins react. Therefore, it can also be seen here that the bull market in the crypto sphere is far from over, as the end of the bull market always comes when the meme coins are going crazy. Now, many meme coins haven't broken their previous highs, so how can we say there's a frenzy?
Recently, fans have been asking when the altcoin season will explode since Bitcoin has risen so much! What trading opportunities do we still have? Referring to the historical bull market Bitcoin cycles, there is a simple flow of funds before the altcoin season occurs: BTC → ETH → major coins → mid/small coins → almost all coins start to get frenzied → the bull market ends and enters a long bear market phase. The altcoin season usually presents a more typical starting path, generally starting from the following aspects: (1) Some innovative projects start rising first, represented by: SUI (2) Some MEME coins and various air coins then start to rise, represented by: PNUT/PEPE/VIRTUAL (3) Some undervalued old altcoins continue to rise, represented by: XRP/XLM/TRX/OM (best performance representative coin) All altcoins are rising crazily, and the market enters a frenzied state (this is also a huge warning signal, as the saying goes: extreme situations will lead to reversals) (1) BTC's dominance has pulled back from a high of 61% to around 55%, and there is significant resistance at the 55% level for the dominant Bitcoin.
(2) The altcoin season index has also reached 73, about to hit the altcoin season indicator of 75.
(3) In the past 90 days, 35 out of the top 50 tokens have outperformed Bitcoin, accounting for as much as 70%! According to our statistics, among the current top 50 tokens by market capitalization, only 11 have surpassed their historical highs (including new coins this round). They are: XRP, OM, WBT, TRX, RENDER, LEO, BTC, SOL, BNB, etc. (4) Leading market makers, such as Wintermute, have accurately followed the rhythm of this market, almost every time hitting the hot spots, smoothly switching from meme to value coins and altcoins. Now Wintermute has a full hand of altcoins, with SOL being the largest position, while BTC and ETH holdings have decreased.
So don't hesitate any longer, hold on to your altcoins. We only need to pay attention to Bitcoin's dominance falling below 50%, and altcoins will welcome a historic breakthrough and surge! That's all for today. Many people hope to have a discussion during the bull market phase. If you really can't manage it in the crypto sphere, don't force yourself; come find me for mentorship, learn the latest information, layout, embrace the bull market, improve your winning rate, and say goodbye to being stuck at high positions.
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