Recently, many people have been asking why this round of gains is led by altcoins, with Bitcoin only catching up later. There is a very practical logic behind this.

Simply put, it’s a matter of lack of funds. The spike on October 11th directly overwhelmed a number of market makers, severely draining liquidity from the entire crypto market. Buying Bitcoin requires a huge amount of capital, which is obviously not available right now, so the market can only take a curved approach—starting with altcoins.

Looking at the data makes it clear. Bitcoin’s price has already fallen below the level of the spike on October 11th, but most altcoins have never broken below that critical point. What does this indicate? It shows that the altcoin market has already been cleaned out below, leaving very limited space, so they can only be pushed upward.

Why PEPE instead of other coins? This is very important. PEPE has already fallen several rounds compared to last year, and most early holders have cut their losses and exited. The market’s chips are very light. At the same time, its market cap is the lowest among the animal series, making it the easiest to pump. To attract new funds, there must be at least a hundredfold or even a thousandfold potential for growth—without that, it’s impossible to draw in people. The wild surge in a coin related to a certain political figure last year is a clear example—human nature is greed, and if the profit isn’t big enough, it can’t stimulate participation.

Therefore, the next logical step is that most altcoins are expected to catch up in the short term, with many mainstream altcoins potentially reaching new highs one after another. The most important thing at this stage is to stay calm, hold onto your coins, and not flee before dawn. This wave of market movement is far from over.