The recent rhythm of the crypto market has become quite interesting.

After Bitcoin rebounded from $87,000 to $94,000, it is now stabilizing around $92,500 with sideways fluctuations. It seems that the bulls haven't been broken yet, but clearly the market has entered a high-level consolidation phase. History shows that whenever Bitcoin consolidates at high levels rather than experiencing a sharp decline, it often signals that funds are starting to flow into altcoins.

From a market structure perspective, signs of rotation are indeed emerging. Bitcoin’s market share is gradually declining, dropping below 59%, indicating that money is flowing back into Ethereum and other mainstream altcoins. This phenomenon resembles the pattern seen before several altcoin seasons in the past—especially when Bitcoin lacks short-term explosive momentum but market risk appetite remains positive.

Technical signals are even more convincing. The Alt/BTC monthly MACD has turned green to red for the first time in nearly two years, suggesting that the long-term relative trend may truly be reversing. Most mainstream altcoins against Bitcoin have formed descending wedge patterns, which could trigger a rally once they break through resistance levels. Notably, Ethereum’s market share has already returned to over 12%, with weekly gains reaching 10%, far outperforming Bitcoin. This is no coincidence; it reflects a conscious shift of funds toward core assets with ecosystems and practical applications.

Fundamentals are also contributing to this trend. The SEC approved the Bitwise spot LINK ETF, which signifies what? Regulatory capital is gradually expanding into high-quality public chains and protocol tokens beyond BTC and ETH. LINK, as a leading oracle project, gaining a compliant investment channel provides the market with an opportunity to reevaluate other mainstream altcoins—especially those with real applications and ecosystem support.

Overall, Bitcoin’s stability at high levels has boosted market confidence. The decline in market share + technical indicators turning bullish + institutional product deployment—these three factors point to a "steady altcoin rotation." Looking toward 2026, rather than a broad rally, the market will likely show structural differentiation—funds will ultimately concentrate on high-liquidity, practically applicable, and regulatorily recognized alternative tokens.

For investors, the game rules at this stage are clear: don’t go all-in blindly, choose your coins carefully, and be patient with your layout. Projects that withstand the test of time are the ones capable of delivering excess returns.