The Divergence Dilemma in the Crypto Market: Bitcoin Soars, Why Do Altcoins Remain Stagnant?
Bitcoin's sharp rise from $20,000 to $100,000 is astonishing, contrasting sharply with the near-stagnation of the altcoin market.
Every time Bitcoin hits a new high, investors' expectations for a rebound in altcoins are dashed once again, revealing hidden concerns behind this split movement.
Market skepticism persists: Is it that altcoin valuations have already priced in future gains, resulting in a lack of upward potential? Or are early-stage venture capital firms (VCs) cashing out after projects list on top exchanges, taking advantage of high market caps?
Recently, new cryptocurrencies often have a circulating market cap starting at $300 million, seemingly confirming the latter speculation.
The current market ecology has changed: the past script of wealth creation through undervalued explosions is difficult to continue, replaced by a chronic consolidation under high valuations.
While Bitcoin continues to hit new highs, altcoins resemble a bubble that has expanded to its limit without bursting.
Without the injection of new retail funds, how long can this valuation game be sustained?
Has the bull market for altcoins yet to arrive, or has it already completely passed?
