$ETH $BTC Bitcoin returns to $90,000, which altcoins are worth looking forward to?
Bitcoin stood above the $90,000 mark again on April 23, mainly driven by two factors:
1️⃣ Improvement in the macro environment: The U.S. Treasury Secretary hinted that the tariff deadlock may ease, leading to a rebound in market risk appetite.
2️⃣ Expectations for monetary policy: Although Trump denied plans to fire Powell, he continues to pressure the Federal Reserve to cut interest rates, undermining confidence in the dollar.
Recently, Bitcoin has shown dual attributes:
- Hedging function: It moves in tandem with gold during political uncertainty.
- Risk asset characteristics: It has continued to strengthen with a 12% increase over the past 7 days following a rebound in U.S. stocks.
Current market characteristics:
📌 Bitcoin's market share reaches 64.2% (a four-year high).
📌 Altcoins are generally stagnant, but some strong coins have begun to outperform BTC.
📌 Focus on altcoins that have recently outperformed BTC, as these assets may continue to lead in the upcoming market trends.
In the context of Bitcoin's 12% increase over the past 7 days, we have filtered the top 100 tokens by market capitalization that have consistently outperformed BTC (excluding those with short-term surges). Key findings:
1️⃣ Only 11 tokens achieved stable excess returns.
2️⃣ On April 23, Bitcoin's market share slightly decreased by 0.2%, indicating that funds are beginning to flow out.
3️⃣ Focus on "naturally growing" tokens rather than those driven by liquidity-induced surges.
Key focus areas for analysis:
1. AI Sector
After a 90% correction, valuations are tending to be reasonable.
The fundamentals of surviving projects have been tested (e.g., VIRTUAL, ARC).
The development of Web2 AI is expected to carry over to Web3.
2. L1 Public Chains
A stable choice for altcoin season.
Directly capture ecosystem liquidity.
Leading projects show stable performance.
3. Meme & DeFi**
High-risk, high-volatility varieties.
Need to operate in conjunction with market sentiment.
(Currently, AI and L1 have more allocation value, while Meme/DeFi should be timed.)
