📊 Current Market Sentiment While Big Companies File for Altcoin ETFs.
We already discussed the lack of an altcoin season due to the thousands of new coins, but the main reason is different.
Every time ETH or any major narrative gains momentum, BTC dumps and spoiling the party.
During the last bull run, Bitcoin's production cost was $30K. Now, after the halving, it has risen to $90K. This explains why BTC has bounced off the $90K support level three times.
We are still trading near the production cost, To keep miners profitable and to maintain BTC Price above production cost, BTC requires liquidity.
Since new liquidity is not entering the market through rate cuts or money printing, they are finding alternative ways to extract liquidity primarily from supressing ETH Price (holders & stakers) and through hype-driven narratives.
So, When Will Altcoin Season Start?
→ Once new liquidity enters (Rate Cute, Money Printing or Alt ETFs)
or
-> BTC Tops and Liquidity flows from BTC to Alts.
