Recently, there has been an interesting phenomenon in the crypto world—whenever Bitcoin reaches a new high, many people still follow the old logic: when the big coins rise, the small coins fall. But in reality, this theory has long been outdated.

From on-chain data, when BTC is approaching the 90,000 level, the market’s capital flow has already undergone a significant change. This is not simply rotation, but a deeper structural adjustment.

**L2 ecosystem indeed has a story to tell**

Many believe that the L2 sector no longer has opportunities, but this judgment actually overlooks a key point—after Ethereum’s Cancun upgrade, the underlying infrastructure of the entire ecosystem has been gradually improved. Once BTC stabilizes, institutional funds seeking guaranteed returns will gradually flow back into liquid assets like OP and ARB. This process may seem slow, but once it starts, the elasticity can be quite substantial.

**The narrative of AI and DePin combination is brewing**

By 2026, the computing power demand for AI large models will experience an explosion. Projects that can combine on-chain incentive mechanisms with actual computing power supply will become the most resilient in this market cycle. Recent backtesting data shows that as long as BTC consolidates sideways, capital will continue to flow into these highly elastic AI-related sectors.

**Whale rebalancing signals have already appeared**

Monitoring on-chain transfers over the past 48 hours indicates that a large number of addresses are gradually taking profits from high BTC positions, while precisely flowing into several mid-cap projects with a market cap between 1 billion and 3 billion. What does this phenomenon indicate? The structural rebound rally has quietly started.

**How to operate more safely**

The first step is to clean up positions. Small-cap projects without real ecosystem support, maintained solely by hype, can be gradually exited, reallocating funds to more fundamentally sound L2 or AI leading projects.

Secondly, focus on key support levels. If BTC can hold above 88,500, the potential for altcoins to catch up is conservatively estimated at an additional 30%-50%.

Finally, focus on those ecosystem leaders that have recent mainnet updates or important roadmap releases. These projects are often the preferred choices for capital inflows.