This round of market rally was driven by the strong performance of the US stock market, with BTC fully following the rise of US stocks, becoming the absolute core of the market. Institutional ETF capital inflows continued, helping the market steadily climb higher.

In contrast, ETH and SOL showed明显 weaker performance compared to BTC, with the previous independent upward trend completely extinguished. ETH's weakness is mainly due to ETF capital outflows, reduced institutional allocation priority, and dispersed on-chain value, resulting in insufficient upward momentum; SOL's decline is due to a cooling of ecosystem enthusiasm, short-term capital fleeing, and the dispersal of capital grouping effects, causing its trend to continue underperforming BTC.

Sector rotation is明显 differentiated, with DOGE maintaining a strong upward trend thanks to retail investor concentration; anonymous sector

ZEC attracted capital attention, breaking out strongly and rising.

Looking ahead, as long as the US stock market remains strong, BTC will continue to lead the rally. ETH and SOL are unlikely to reverse their弱势 pattern in the short term and will need new positive catalysts. Short-term capital will continue to focus on hot altcoins, but caution is needed regarding the overall market correction risk brought by a US stock market pullback.