Bitcoin fell below $96,000 over the weekend. Is the Altcoin rally beginning or over?

The trend of Bitcoin and meme coins stagnated and went out during the holidays, with Bitcoin once falling below $96,000. In contrast, Altcoins, which have been neglected for a long time, have seen a significant rise. Many believe that in the environment of a barbell market, the prices of mid-cap Altcoins are long-term below their fair value, and this trend is driven by the inflow of investor funds. However, some analysts believe that this may be the last dance before the crypto market adjusts, and the overall market will see a pullback after this wave. According to data from Coinglass, the crypto market saw nearly $500 million in liquidations in the past 24 hours, mainly from long positions. It is worth mentioning that the contract liquidation volume in the entire November is significantly higher than the previous level. However, the overall market's open interest and funding rates are still at high levels, indicating that despite the recent wave of liquidations, the overall market leverage has not dissipated, which may mean that if a correction occurs in the future, the magnitude could be far greater than most people expect.