Here’s my current take on the market. Over the next one to three months, $BTC still has room to move upward, especially after concerns about rate hikes ease. $BTC investors won’t have to simultaneously deal with income declines and credit tightening caused by a recession. In other words, the current macro environment is favorable for $BTC. With the economy continuing to operate steadily, the pressure for tighter monetary policy has lessened. Plus, both institutions and retail investors in the market are starting to take on risk again, which means $BTC’s rise no longer has to wait for major rate cuts to materialize. The logic for altcoins is even simpler than $BTC. For new users entering the chain right now, they can choose to hold stablecoins, buy traditional RWA assets, or engage in lending and trading. Throughout this process, there’s no strong demand to hold a large amount of altcoins. So, this round of altcoins likely won’t see much competition between sectors. It’ll mainly fall into three categories: - Altcoins that rely on industry hype to maintain their valuation - Altcoins aiming to grow by capturing market share from traditional finance - MEME coins During a bull run, all three types of altcoins will rise together. During sideways movement, funds will flow back to RWAs and blue-chip assets for risk aversion. Regulatory improvements that lead to valuation recovery will also strengthen the risk resistance of blue-chip altcoins.