BTC Nears Record High: Impact on Crypto Market and the Rise of Meme Coins

As BTC is close to a record high, it has forcibly boosted the market. However, 2 years after the Federal Reserve raised interest rates and shrank its balance sheet, the overall liquidity of the crypto market is still unable to compare with 2021. In addition, the market has not yet developed a phenomenal ecosystem, so it cannot achieve universal success. rise.Some funds on the market have chosen to push up the market of meme coins. In recent days, many meme coins have even increased by more than 50% in a single day. Therefore, there is a differentiated pattern in which BTC and meme coins are rising, while other mainstream coins are sluggish.Another reason is that many large-market value projects will have a large number of unlocks in 2024. For example, public chains such as arb, op, sui, and strk are facing unlocks of even more than one billion US dollars, and funds cannot be used to speculate.If the market wants to see a general rise similar to previous cycles, it still has to wait for the Federal Reserve to turn on the money printing press again after it substantially cuts interest rates. Therefore, it is becoming increasingly difficult to make money in the crypto market. If you follow the wrong rhythm or choose the wrong sector, you may still lose money in a rising market.