Currently, the market capitalization of altcoins compared to BTC's weekly closing has formed a bearish engulfing pattern, and market sentiment is indeed not very optimistic. Despite Bitcoin reaching a new high, the exchange rates of altcoins are declining, causing considerable concern.
Whether the key level of 0.75 can be突破 will determine if the altcoin season will continue. If Alts/BTC continues to pull back, the first half of 2024 may replay the past pain.
Considering the current risks, I may start to reduce my long-term holdings of altcoins by 20%, especially those that have already recovered and turned a profit, to manage risk.