In the cryptocurrency market, Bitcoin (BTC) seems to be experiencing an independent bull market, while altcoins are generally performing poorly. Although Bitcoin prices remain high, many altcoins continue to lose blood and even hit record lows. This differentiation phenomenon is not common in previous bull and bear markets, and may indicate that the market's view on cryptocurrencies is changing.

First of all, as the leader of the cryptocurrency market, Bitcoin's stable and rising prices provide confidence to the market. However, the weak performance of altcoins may be related to the market's doubts about them. Many people believe that the teams behind many altcoins are just using concepts such as AI, DeFi, NFT, and chain games as gimmicks to drive up the price of coins, rather than really committing to technological innovation or solving practical problems. For example, some AI coins may not have much to do with the actual application of chips or intelligent learning, but just use professional terms to attract laymen to invest.

For institutional and Wall Street investors, Bitcoin is enough to meet their needs, such as money laundering, strong consensus mechanism, portability, etc. These characteristics make Bitcoin their first choice for investing in cryptocurrencies. The high volatility and uncertainty of altcoins have deterred many large investors.

In addition, some negative news in the cryptocurrency market, such as money laundering and market manipulation, also affected the market's view on altcoins. China recently revised its laws to combat cryptocurrency money laundering, which indicates that the regulation of cryptocurrencies is being strengthened worldwide, which may put further pressure on the altcoin market.

In this market environment, the strong performance of Bitcoin and the weakness of altcoins are in sharp contrast. Bitcoin's stability and wide recognition make it a safe haven in the market, while altcoins face more doubts and challenges. When considering entering the cryptocurrency market, investors need to carefully evaluate the potential value and risks of various cryptocurrencies, and avoid blindly pursuing short-term profits while ignoring long-term market trends and fundamental analysis.