#比特币价格走势 An interesting market turning point signal has been observed: BTC's dominance is declining, stablecoins are continuously flowing in, and fresh liquidity is returning. More importantly, the rebound of some tokens is driven by spot rather than leverage - this means the foundation of this round of rotation is relatively healthy and not a false start.

The trading activity of the perpetual contract platform is lagging, indicating that overly expanded positions are being forcibly liquidated there, which further validates the authenticity of incremental capital. From the on-chain capital flow perspective, the bullish sentiment is indeed being rebuilt, but the focus is not on the most talked-about concepts, but rather on those assets that have been quietly accumulating at the bottom.

If this shift occurs, altcoins do indeed have a chance to rebound relative to BTC. However, the premise is that stablecoin inflows can be sustained, and the risk release of contract platforms must be adequate. It is recommended to closely track the entry trajectory of large spot buy orders, as well as the capital movement in mainstream exchange wallets—this is more indicative than any sentiment indicators.