Bitcoin is consolidating around 98,000 to 102,000. The crypto giant MicroStrategy has been selected into the Nasdaq 100 index! Trading will start on December 23rd, and the crypto space is about to enter an accelerated rising phase! 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; the crypto space will achieve a qualitative leap in the next 3-5 years.
In the short term, Bitcoin's rise may reverse and suck the life out of altcoins, and if this happens, don’t be surprised, it’s a normal process. Because Bitcoin is like a ruler that determines the upper limit for all coins. Only when it breaks through will the smaller coins start to react. So, it can also be seen that the bull market in the crypto space is far from over, as the end of the bull market always coincides with the frenzy of meme coins. Many meme coins haven't even broken their previous highs, so where does the frenzy come from?
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 BTC cycles during bull markets, there is a simple flow of funds before the altcoin season occurs: BTC → ETH → Major coins → Mid/Small coins → Almost all coins start to surge → The bull market ends and enters a long bear market phase. The altcoin season typically presents a more characteristic initiation path, generally starting from the following aspects: (1) Some innovative projects begin to rise 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-performing representative coins) All altcoins are surging madly, and the market enters a frenzy state (this also serves as a significant warning signal, as they say, extremes will reverse) (1) BTC's dominance has pulled back from a peak of 61% to around 55%, and there is significant resistance at the 55% position for Bitcoin's dominance.
(2) The altcoin season index has also reached 73, about to hit the altcoin season indicator of 75.
(3) In the past 90 days, among the top 50 tokens, 35 have outperformed Bitcoin, with a percentage as high as 70%! According to our statistics, among the top 50 tokens by market capitalization, only 11 have surpassed historical highs (including new coins in this round). They are: XRP, OM, WBT, TRX, RENDER, LEO, BTC, SOL, BNB, etc. (4) Leading market makers are fully invested in altcoins. The leading market maker wintermute has timed this market rhythm very well, almost every time hitting the hot spots, smoothly switching from meme coins to value coins to altcoins. Now wintermute is fully loaded with altcoins, with SOL as the largest position and reduced holdings of BTC and ETH.
So don’t hesitate any longer, hold onto your altcoins. We only need to pay attention to Bitcoin's dominance dropping below 50%, and altcoins will usher in a historic breakout and surge! That’s all for today. During the bull market phase, many people hope to have a discussion. If you really can’t navigate the crypto space by yourself, don’t force it, come find me for mentorship, understand the latest information, layout strategies, embrace the bull market, and improve your win rate, saying goodbye to high positions being trapped.
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