The first stage is dancing with strong whales, the second stage is the oversold rebound of value targets, the third stage is the wonderful alignment between strong whales, wild whales, and the market. What is the fourth stage? Could it be that even honest whales have their springtime?
Assuming we are currently in the altcoin bull market phase, the key consideration is why the price is being pumped when the engine for short squeezes is absent and the buying pressure brought by listings is limited. I don't agree with the logic of a general price increase; it's more about trading within the scope of narrative + attention.
This is also the main reason why ETH has risen, along with a batch of undervalued infrastructure in its ecosystem experiencing a general price increase. It's not because their business is particularly strong, but simply because the narrative has locked their position, and they are being impacted by the influx of speculative funds.
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