This market is really absurd! Bitcoin hit a historical high of $117,000 with one push on the gas, and the whole network is shouting 'New Era of Digital Gold.' But looking at the altcoin pool—90% of the coins are quieter than the scam parks in northern Myanmar.
Why does this magical scene appear? The old-timers in the circle have already seen through it:
1. Institutional FOMO, all bullets fed to Bitcoin
Those in suits on Wall Street now only recognize Bitcoin ETFs. On-chain data shows that 90% of new funds flow into Bitcoin. These people see altcoins as gambling chips and don’t take them seriously at all. A big player from Binance complained to me: 'Buying altcoins now is like digging for gold bars in a cesspool; it’s better to close your eyes and go all-in on Bitcoin.'
2. The 'Legalization Trap' from Regulatory Authorities
The stablecoin bill strongly promoted by the Trump team is about to be implemented, clearly giving Bitcoin a 'compliance pass.' In contrast, what about altcoins? The new SEC chairman just announced a crackdown on 'air coins,' scaring project teams into deleting white papers and fleeing overnight!
3. Pumping Bitcoin to force retail investors to sell at a loss and switch vehicles
Just look at the long-short ratio on Binance to know that the current altcoin contract positions have hit a two-year high. The market makers deliberately use Bitcoin to create anxiety, waiting for you to sell altcoins to chase the highs, then flip the long positions and pump altcoins. This trick has been used multiple times in the bull markets of 2017/2021; seasoned investors understand.
4. Is there still hope for altcoin season? Keep a close watch on three major signals
Those who say altcoins are dead are just newbie investors! In the historical script, every time Bitcoin breaks a high and consolidates, it's the fireworks marking the start of altcoin season (refer to the script from May 2021). Right now, focus on these three indicators:
🟢 Breaking Point 1: Bitcoin's Market Cap Percentage Falls Below 50%
Currently, BTC.D is still holding at a high of 55%. When Grayscale and these institutions start taking profits, funds will overflow into the altcoin pool. On-chain whale monitoring shows that institutions have already begun to sell off in batches around $111,000.
🟢 Breaking Point 2: ETH/BTC Exchange Rate Reversal
Ethereum has been suffocated by Bitcoin this week, with the exchange rate dropping to a shameful low of 0.031. However, miner holding data indicates that mysterious forces are frantically accumulating below $2,400. Once the exchange rate rebounds and breaks 0.04, it will be the call to arms for altcoins.
🟢 Breaking Point 3: New Narrative Nuclear Bomb Detonated
RWA, AI, and Depin—these old stories from 2024 have long cooled down, but insider news says Coinbase is launching a batch of 'Trump Concept Coins' next month, and some Wall Street capital is preparing to pump $500 million into the Solana ecosystem. Remember, new retail investors only chase coins that are trending!
Old players in the crypto circle know that in a bull market, it’s not about who makes money fast, but who survives the longest. Bitcoin dancing solo will eventually come to an end, and when that time comes, the scene of altcoins surging will be the carnival moment for retail investors.