#BTC在10月份能否突破历史新高？ # In the Cryptocurrency market, the choice of narrative is very important. Popular narratives can not only attract a large number of investors and users to participate but also motivate the development team to actively create new products; obscure or outdated narratives can only be sustained by a few developers and users, and hope to make a comeback someday.

In response, Sandra, a user of the X community, aggregated the top 20 narratives in the encryption market through Kaito AI Data, and compared the changes of each narrative in January and August 2024.
Changes in the ranking of major narratives
1. AI narrative still ranks first
From the chart, it can be seen that AI narrative has been the leader among various narratives since January this year. Due to the emergence of ChatGPT, AI topics have been consistently high in recent years. Among the top 10 companies in the US market cap, more than half of them are building AI products. It can be seen that every industry is crazy about AI, and the crypto market naturally cannot fall behind.
2. The abstract narrative of the chain has the fastest growth rate.
What surprised the author most was that the abstract narrative of Blockchain increased by an astonishing 673.33%, rising from 0.15% in January to 1.16% in August. Although its narrative share still ranks at the bottom, the complex on-chain operations in the infrastructure of Blockchains have been a persistent issue for many users. Therefore, gradually downplaying the concept of 'Chain' is an essential step in promoting the widespread adoption of Blockchain.
3. BRC20 Narrative Cools the Most
In addition, the popular narrative BRC-20, which started the bull run in October last year, still had a narrative share of 4.14% in January this year, but by August, it had dropped to only 1.13%, a significant decrease of 72.71%, becoming the fastest cooling narrative among the top 20 narratives.
However, this month BTCLayer2's popular project Fractal Bitcoin has launched its Mainnet and started Ordinals transactions. Whether BRC20 can regain market focus with Fractal Bitcoin is worth our continuous follow.
4. Decentralized Finance and meme narratives are still mainstream
And in this unusually hot bull market, the narrative dominance of MEME has risen from 8.65% in January to 11.79% in August, with a pump amplitude of 35.67%, making it the third on the narrative ranking. As for the second place on the narrative ranking, it is Decentralized Finance, whose narrative dominance has risen from 9.85% in January to 15.47% in August, with a pump amplitude of 57.06%, which is even more astonishing than the rise of MEME.
5. Halving, ETF narrative quickly cooling down
On the other hand, the ETF narrative and the Halving narrative are also rapidly declining in market share, with the ETF narrative dropping from 10.08% in January to 6.42% in August, a decrease of 36.31%; while the Halving narrative also dropped from 2.12% in January to 0.91% in August, a significant decrease of 57.08%.
Since the listing of Ethereum Spot ETF on July 23, the listing expectations of the two major mainstream Tokens have also come to an end. Although the market still has expectations for the listing of SOL, it is foreseeable that the ETF narrative will continue to cool down. In addition, the narrative of BTCHalving occurs once every 4 years, so after the fourth Halving that ended on April 20, the next Halving will not occur until 2028.