PANews reported on June 3 that 10x Research pointed out in an article that Bitcoin has continuously refreshed its historical highs, attracting a large amount of institutional funds, but the altcoin market has stagnated. The continuous unlocking of tokens and the lack of new narratives have become constraints on the development of altcoins. The old model of relying on hype and leverage has lost its effectiveness in the environment of 4.5% US Treasury yields, and even Ethereum has quietly entered the stage of "staking in exchange for moderate returns."

It doesn’t take much money to push up the price of altcoins. A few large buy orders can pry open the low-liquidity market, but maintaining the upward trend is a challenge, which requires more retail investors to participate, and this is the real difficulty. Over the past year, crypto Twitter has been hyping that altcoins are about to usher in an explosive season, and the so-called "banana zone" concept has been repeatedly mentioned, but this narrative has not yet been fulfilled. Although the market sentiment is high, the key factors supporting such a market have never appeared.