The market favors ecosystems with real-world traction (BNB’s yield products), geopolitical narratives (BTC reserves), and institutional-grade infra (ETH L2s). Watch BNB’s TVL growth, BTC reserve legislation progress, and ETH’s Dencun upgrade impact on L2 fees. With altcoin season index at 41 (+70% MoM), rotation into narrative-driven mid-caps appears imminent.