Bitcoin's$BTC soaring, hitting new all-time highs, which is awesome, right? But, like, why isn't the rest of the crypto market following suit? Here's what I think is going on:
First off, Bitcoin$BTC is just hogging all the attention (and money!). Bitcoin's dominance is up, which means everyone's piling into BTC and ignoring everything else. It's like, Bitcoin is the cool kid, and everyone wants to hang out with them first.
Then there's the altcoin overload. Seriously, there are SO many altcoins out there. It's hard for any one project to really stand out and gain traction when the market's so diluted.
Also, Ethereum$ETH
needs to get its act together. Historically, when Ethereum starts doing well, that's when the altcoins start to pop off. Until ETH starts outperforming Bitcoin, the rest of the market is just kinda...waiting.
Finally, altseasons usually come *after* Bitcoin's big run. Bitcoin's still the main event, so everyone's focused on it. Once it cools down, that's when the altcoins usually get their turn.