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After the general election, the news cycle seems calm. Last night, Bitcoin (BTC) hit a historic high of $77,179.1 and is now consolidating above $76,000 with declining trading volume. During midweek, institutional traders are actively pushing BTC, while on weekends, retail traders drive AltCoins. This pattern has often appeared in past bull markets. Currently, Ethereum (ETH) has surged past $3,000, which is expected to catalyze growth in related tokens, especially in the DeFi and Layer 2 sectors as sector rotations unfold. But is it truly AltCoin season yet?
Yibo argues that without a broad rally in AltCoins, even BTC’s impressive gains don’t mark a true bull market—it would simply be a solo show for BTC.
The possible scenarios for the crypto market's future include:
1. Both the U.S. stock market and BTC continue their rally, with BTC drawing most of the market’s attention, leaving only a minor or limited AltCoin season. This trend could extend until mid-next year.
2. The U.S. economy and stock market may start to cool in the first half of next year, leading to a market pullback across both equities and crypto, effectively signaling the end of the bull market.
Each scenario presents unique implications for investors, and time will reveal how the cycle evolves.