Odaily星球日报讯 交易员 Eugene Ng Ah Sio 于 X 发文表示：“我认为这是我经历过的最具挑战性的牛市山寨币季。资本流动对我来说没有多大意义，而且很难预测变动的程度。 此时，我通常会呼吁 CT 的大多数热门加密货币进行适当的山寨币轮换，但现在我不太确定。目前在保留资本的同时进行观察和等待。”

Odaily星球日报讯 交易员 Eugene Ng Ah Sio 于 X 发文表示：“我认为这是我经历过的最具挑战性的牛市山寨币季。资本流动对我来说没有多大意义，而且很难预测变动的程度。此时，我通常会呼吁 CT 的大多数热门加密货币进行适当的山寨币轮换，但现在我不太确定。目前在保留资本的同时进行观察和等待。”

交易员Eugene：当前是我经历过的最具挑战性的牛市山寨币季，仍在观望

Odaily Planet Daily reports that trader Eugene Ng Ah Sio posted on X, stating: "I believe this is the most challenging Altcoin season bull market I have experienced. Capital flows don't mean much to me, and it's hard to predict the extent of the changes. At this time, I would usually call for a proper Altcoin rotation among CT's most popular cryptocurrencies, but I'm not too sure now. I'm currently observing and waiting while preserving capital."

Odaily Planet Daily reports that trader Eugene Ng Ah Sio posted on X, stating: "I believe this is the most challenging Altcoin season bull market I have experienced. Capital flows don't mean much to me, and it's hard to predict the extent of the changes. At this time, I would usually call for a proper Altcoin rotation among the majority of the popular cryptocurrencies on CT, but I'm not too sure now. I'm currently observing and waiting while preserving capital."

Trader Eugene: This is the most challenging bull market Altcoin season I have ever experienced, and I am still watching

Odaily Planet Daily Report: Trader Eugene Ng Ah Sio shared his operating philosophy for this bull market, saying: "I don't think the current cycle will work the same way as in the past, and using historical heuristics as a benchmark will only make you lose money. The infrastructure is already mature in the physical sense, and the differences between marginal buyers in various aspects of the market are huge. PVP and PVE elements will always exist. You have to adapt, or you will fall behind."

Trader Eugene: This round of bull market should not refer too much to historical cycles, PVP and PVE elements will always exist

According to the <ChainCatcher> report, Bitfinex has released a report stating that "Bit is nearing the historic $100,000 milestone, driven by unprecedented inflows of capital into Bit ETFs and strong institutional demand. Despite facing profit-taking resistance at its latest all-time high, Bit has shown resilience, holding around $96,000 over the weekend and regaining some of its upward momentum in early Monday trading. Bit has risen 47% since the pre-US election low of $66,880 and an astonishing 130% year-to-date, breaking new ground. Bit's performance relative to traditional assets is undeniable: Bit's market cap has now surpassed Saudi Aramco, making it the world's 7th largest asset, with a valuation exceeding $1.9 trillion at its peak.

While Bit's upward momentum is impressive, it is not without long-term holders taking profits. Although the pressure has increased, it remains manageable compared to the historical highs in March 2021 and March 2024. These trends suggest that the market momentum has temporarily stalled, but the overall market may absorb the selling pressure and continue to rise in the medium term.

The overall cryptocurrency market (excluding Bit and Ethereum, known as the Total3 index) has also reached a new cycle high, with a surge in investor sentiment driving a 23.2% rally in the Total3 index from low to high last week - the largest since April 2021. Large-cap Altcoins, such as Solana (SOL), have reached new all-time highs, breaking through key resistance levels, including the April 2022 high.

The Altcoin market cap is now approaching the $984 billion peak of May 2021, indicating that speculative capital is shifting from Bit to Altcoins. Historically, this type of capital rotation often signals the arrival of an 'Altcoin season', where Altcoins outperform Bit.

In fact, the annualized financing rates for large-cap Altcoins have surpassed the 45% threshold, indicating an intensification of speculative activity. With increased retail investor participation, short-term volatility is expected to rise, further fueling the momentum of Altcoins. However, these conditions also warrant caution, as extreme financing rates often signal the potential for a violent market correction."

Bitfinex latest research: speculative funds are shifting from Bitcoin to Altcoin, often heralding the arrival of the "Altcoin season"

From November 13 to November 14, the Binance price increase list welcomed a group of familiar faces, with <DOT>, <FIL>, SAND, MANA, and other former bull market heavyweights making the list. After sitting on the bench for nearly half a year, old Altcoin holders finally felt the breath of the bull market. Driven by the collective surge of old Altcoins, the money-making effect of this round of the bull market has reached a stage-wise high, and the market sentiment has remained in an extremely greedy state (93-94). Over a relatively long period, the catch-up rally of old Altcoins has often been seen as a signal of the topping out of existing positions and optimistic sentiment. Therefore, the catch-up rally of old Altcoins...