The cyclical changes in the cryptocurrency market have always been the focus of investors. Looking back at last year's market performance, we found that the altcoin market experienced a significant surge on November 6. The main driving force behind this phenomenon was the breakthrough growth in Bit prices, which subsequently led to a general increase in other encryption currencies.

This year, market participants are closely monitoring whether Bitcoin can break through the key price level of $124,400. Many analysts believe that if Bitcoin can surpass this level with sufficient trading volume, it is likely to trigger a synchronized rise in the altcoin market again.

However, it is worth noting that if Bitcoin breaks through the price threshold but the trading volume is not sufficient, then the rise of the altcoin market may be delayed. This reflects the significant impact of market participation and investor confidence on the entire encryption ecosystem.

Overall, Bitcoin, as the leader of the encryption currency market, still has its price trends and trading volume changes as key indicators for predicting the direction of the entire market. Investors and traders should closely monitor these factors to better grasp market opportunities and risks.