After Bitcoin reached a new high, the potential development of the alts market

Bitcoin recently broke through the historical high of $123,000, sparking market interest in altcoin trends. Looking back at the last three Bitcoin breakout trends, we can observe some interesting patterns.

Whenever Bitcoin experiences a significant breakthrough, the alts market usually welcomes a strong rebound within the following 3-5 weeks. This pattern has been validated in recent Bitcoin price breakthroughs:

30,000 to 44,000 USD $45,000 to $71,000 $71,000 to $105,000

Currently, Bitcoin has broken through the resistance level of $107,000 and continues to rise to $123,000, with the potential to challenge the $150,000 mark. If historical patterns continue to apply, we may be at the starting point of a new altcoin bull cycle.

However, it is worth noting that this may not be a prolonged comprehensive alts bull market lasting for months, but rather a short-term rapid surge. Bitcoin's market dominance remains high, indicating that the current situation may not be a full-fledged altcoin season.

Among mainstream alts, the performance of Ethereum, Solana, and XRP varies. Ethereum lagged behind Bitcoin by the end of 2023 but has recently shown signs of gradual recovery. Solana had a strong early performance but currently shows some weakening momentum. XRP initially performed mediocrely but has seen significant growth recently.

Currently, payment-related tokens seem to be favored by funding, especially those "bank tokens" that comply with the ISO20022 standard. Meanwhile, some large-cap coins that have not yet launched are also worth noting, such as BNB, LINK, ADA, TRX, and DOGE. These coins may become important targets for future capital rotation.

If the Solana ecosystem starts to attract the attention of investors, its related tokens such as BONK and PENGU may perform well. Additionally, some imitation tokens of Layer 1 projects, such as Sui, Aptos, and AVAX, may also see opportunities for an increase.

In the current market environment, investment strategies should focus on blue-chip tokens, seeking out potential coins that have not yet launched, and promptly switching to strong narratives when leading projects launch. Temporarily avoiding small market cap coins may be a wise choice due to the higher risks.

Although altcoins may experience a strong cycle for 1 to 2 months, investors should remain vigilant and take profits at the right time. If Bitcoin continues to rise to $150,000, the top 20 coins by market cap may rise collectively, and some assets may see significant catch-up rallies.

Overall, it is crucial to maintain rational operations. Hold strong tokens and decisively abandon underperforming assets. Maintain an optimistic attitude, but do not be blindly fervent. Keep a close eye on Bitcoin's market dominance and trading pair activities, as this will provide important clues for judging market trends.

Although the current market may not be as frenzied as the bull markets of 2017 or 2021, it is still a worthwhile investment window. Small-cap coins will eventually perform, but patience is needed to wait for the right moment.