In the development of the Crypto Assets market, we can observe a recurring pattern: the flow of funds from Bitcoin to other Crypto Assets follows a specific rhythm. This cycle can typically be divided into four distinct stages, each with its unique characteristics and market focus.

The first phase is the period centered around Bitcoin. During this phase, investors' attention is primarily focused on Bitcoin. Funds are prioritized to flow into Bitcoin, driving its price up, while also increasing Bitcoin's share in the overall crypto assets market. This phase often lasts the longest, during which Bitcoin's performance typically outperforms most other crypto assets.

Subsequently, the market entered the second phase, which is the Ethereum phase. At this point, investor interest began to shift towards Ethereum. The increase and attention on Ethereum surpassed that of Bitcoin, while also driving up the prices of other large Crypto Assets. In this phase, Bitcoin's market share started to decline.

The third phase is known as the mainstream coin phase. When the price of Ethereum reaches a high, funds start to flow into other high market cap crypto assets. These mainstream crypto assets will typically see a rally, and smaller crypto assets with solid fundamentals often benefit from this.

The final stage is the altcoin season. In this phase, market sentiment is fully ignited, and investors begin to invest heavily in small to mid-cap projects. These projects may experience significant increases in the short term, but this rise is more driven by investor sentiment rather than fundamental support. The altcoin season typically lasts around 15 to 20 days, and if this occurs, it often indicates that the entire market cycle is about to end, which may also be the last opportunity before funds withdraw.

It is worth noting that although the current market's sources of funding may be more diversified, including institutional investors and enterprises, the overall market operation logic is likely to still follow this pattern. Currently, the market performance is closer to the Ethereum phase, which means we may be in the middle of the cycle.

For investors, understanding this market cycle can help formulate more effective investment strategies. However, we should also remember that past patterns do not guarantee future developments. The Crypto Assets market remains highly volatile, and investors should proceed with caution and fully assess risks.