Bitcoin is reaching new heights, but the altcoin market is still sluggish. There are several key reasons behind this:
Bitcoin's reign is increasing.
More capital is currently being invested in Bitcoin, while other currencies are being overlooked. When Bitcoin's dominance increases, the behavior of altcoins generally weakens. Investors' primary focus is usually on BTC.
The abundance of altcoins.
There are thousands of altcoins in the market, most of which have similar features and little distinction. As a result, capital gets scattered everywhere, making it difficult for any single project to emerge with significant strength.
Ethereum is not currently leading.
The ratio between ETH and BTC is currently weak. Historically, when Ethereum rises powerfully, it is a good sign for the entire altcoin sector. As long as ETH does not leave BTC behind, most altcoins remain lagging.
Altseason typically comes after Bitcoin.
Most altcoins gain momentum only when Bitcoin completes its major run or pauses and consolidates. Right now, the focus is solely on Bitcoin. The trend in altcoins generally starts a bit later.
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