Bitcoin hits a new all-time high, but market reaction is tepid
Yesterday, Bitcoin reached a historic high of $107,800. However, market sentiment did not soar as expected. Why did the market remain quiet after Bitcoin's surge? The main reasons are:
Only Bitcoin is rising, while other sectors are underperforming: such as L1, RWA, GameFi, Meme, L2, social DePIN, and NFT-related tokens, most of which are either declining or have limited gains.
The increase is not significant, and the bullish sentiment has not been fully ignited: although Bitcoin has surpassed its previous high, investors are still waiting for the arrival of a comprehensive bull market.
