Bitcoin still maintains a narrow range of fluctuations, pulling back to around 92k last night, and so far it is still in line with "Bitcoin first in narrow fluctuations then in wide fluctuations" trend.
Once Bitcoin finishes its adjustment and starts to truly break through 100k, it will also mark the acceleration phase of this bull market. This is the most FOMO phase, when new investors rush in. At this time, Bitcoin is unlikely to break 100k, and the reason is that 100k needs to be kept to attract new investors.
Altcoins have not been idle either; during this period of Bitcoin's fluctuations, they have all performed in their own ways.
After the MEME sector ends, the rotation goes to the major old coins, followed by the metaverse and some DeFi projects, with stories of tripling in ten days being commonplace. The rotation of old coins is not over yet; those old-timers who have endured for years need to cash out.
Old coins are just the appetizer for this wave of altcoin season; the real protagonists of the altcoin season are quietly raising the water level. The crazy performances of altcoins in every bull market occur during Bitcoin's acceleration phase.