Recent trends in the crypto market show that Bitcoin (BTC) and some meme coins (such as pepe, shib, doge, etc.) have become the main sources of gains, while other altcoins have performed mediocrely. BTC's rise is mainly driven by ETF funds, while the surge in meme coins is mostly due to the joint efforts of retail investors and dealers.

With the entry of institutional funds from Wall Street ETFs, although market liquidity has increased, there is still a gap compared with 2021. This has led to funds being focused on some hot spots and forming local market conditions. In particular, the meme coin sector has attracted a large influx of funds due to its unique community effect and speculation, resulting in a single-day increase of more than 50% for some meme coins.

At the same time, Bitcoin hit a record high, but the overall market rise was not balanced. Some mainstream coins are "stagflationary" because the market ecology has not yet been perfected, and the strength of BTC has exacerbated the market differentiation. Many investors are worried that BTC's adjustment will bring down the entire market, so the main funds are relatively cautious in their operations.

In mid-2024, a large number of tokens of large-cap projects will face unlocking, which will put some pressure on market liquidity. To achieve a comprehensive market rally, it may be necessary to wait for the Fed to implement a substantial interest rate cut policy and restart the printing press. Therefore, in the current market environment, investors need to operate cautiously to avoid missing the rhythm or choosing the wrong sector.

There are different market views on the future trend of Bitcoin and other cryptocurrencies. But overall, as the leader of the crypto market, Bitcoin's trend will still have an important impact on the entire market. And speculative varieties such as meme coins may fluctuate sharply due to market sentiment and leverage effects.

For investors, it is crucial to stay calm and rational. In the case of full positions and long-term positions, you can consider holding them; for investors with lighter positions, you can take advantage of the current opportunity to build positions in batches. At the same time, you need to pay close attention to market dynamics and risk factors so as to adjust trading strategies in a timely manner.

Finally, it should be emphasized that the crypto market is an area full of uncertainty. Investors need to fully understand the relevant risks when participating in the market and formulate reasonable investment strategies based on their own circumstances.

At present, the only sectors that can drive the entire market up are the solana ecosystem and the meme sector

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