The altcoin market is like a "shadow army" that follows the fluctuations of Bitcoin (Bitcoin), rotating regularly.

In the first wave, SOL, memecoin, etc. are strong, either running ahead of Bitcoin or rising synchronously with Bitcoin. As the protagonists of this round of bull market, funds are constantly chasing them.

In the second wave, large-cap altcoins such as DOGE, XRP, and ADA appeared. When Bitcoin rose, they followed, and their growth exceeded that of Bitcoin. Driven by emotions and events, they became the pioneers of impacting high-market value, and also led some medium-market value altcoins to rise together.

In the third wave, Ethereum (ETH), the "king of altcoins", came out with its younger brothers. Once ETH moved, its ecosystem and L2 currencies followed suit. At this time, the currencies that rose sharply in the front entered consolidation, which means that after the emotional speculation cooled down, the market entered the actual rotation stage, and it is currently in this stage.

When Bitcoin is strongly consolidating, it is an opportunity window for altcoins. As for the next wave, whether a new narrative will emerge to open a new market or repeat the previous routine, it is full of variables and worth paying attention to.