On April 23, Bitcoin reclaimed the $90,000 milestone, driven by two key catalysts:
Geopolitical clarity: U.S. Treasury Secretary Besent signaled an imminent easing of tariff tensions, which had been weighing on markets.
Monetary policy pressure: Former President Trump publicly demanded rate cuts from Fed Chair Powell, even threatening removal, sparking global doubts about the Fed’s independence and eroding confidence in the dollar. (Trump later backtracked, stating, “I’m not firing Powell—I just want him to act faster on cuts.”)
Bitcoin, which briefly acted as a “digital gold” hedge during Trump’s Fed drama, now thrives on liquidity premium as stocks rebound. BTC is up 12% in the past seven days, even as its market dominance hit a four-year high of 64.2%.
While altcoins haven’t yet followed Bitcoin’s lead, tracking outperformers during market volatility could reveal future capital preferences. Below, we identify sectors and tokens showing resilience amid BTC’s dominance.
The table below highlights tokens in the top 100 by market cap that outpaced Bitcoin’s 7-day gains. Note: We exclude one-day pump-and-dump tokens, focusing instead on coins with sustained outperformance.
(Note: The original article lists 11 tokens; this translation abstracts the concept without enumerating them to maintain brevity.)
By analyzing the outperformers, four sectors emerge as primary candidates for pre-altseason positioning: AI, L1, Meme, and DeFi.
The AI narrative kicked off the last cycle (e.g., GOAT’s meme-AI hybrid), but speculative froth led to a 90%+ crash for most AI tokens. However, this correction wasn’t a death knell—it weeded out weak projects.
As Web2 AI matures, surviving Web3 AI projects now offer undervalued fundamentals. If altseason arrives, this sector could absorb BTC’s liquidity spillover.
Tokens to watch (beyond the table):
VIRTUAL, ARC, ALCH, SWARMS, Zerebro
Layer 1 chains remain a safe bet during altseason due to their role as ecosystem anchors. However, unlike 2021’s “EVM clones,” investors now prioritize TPS and developer tools that drive real adoption.
Emerging L1s with pending token launches (e.g., Monad, MegaETH) could outperform legacy chains if catalysts like exchange listings or institutional adoption emerge.
Bitcoin itself is the ultimate meme coin. Meme tokens thrive as cultural artifacts, with leading memes on each chain acting as “leveraged L1 plays.”
Key advantages:
Decentralized pricing: Not controlled by centralized exchanges.
Wealth effect: Generates viral liquidity cycles.
DeFi stands out as a sector with tangible revenue streams:
Perpetual DEXs/DEXs: Earn trading fees.
Lending: Capture interest rate spreads.
Yield Farming: Earn deposit/withdrawal fees.
Launchpads: Earn token listing fees.
Tokens like HYPE, JUP, AAVE dominate their niches and feature token buybacks. As altseason lifts volumes, network effects amplify profits, strengthening buyback pressure and boosting prices.
Altseason hinges on two factors:
Bitcoin’s stability: BTC holding above $90K provides confidence.
Capital rotation: A sustained decline in BTC.D (Bitcoin’s market dominance) signals outflows into altcoins.
On April 23, BTC surged to $90K, but BTC.D dipped just 0.2%, indicating “risk-off” capital remains parked in BTC. However, if BTC.D reverts to early-2025 levels (~57%), it would signal a broad altcoin rotation.
In short: Altseason begins when Bitcoin rallies and capital migrates to riskier assets. For now, observe, filter, and position—BTC.D will tell us when the party starts.
Current BTC Price: $94,000 (as of writing)
7-Day Gain: +12%
Bitcoin Dominance: 64.2% (4-year high)
