This chart says it all — even though Bitcoin is maintaining above the 100,000 USD mark, the market feels heavy and fatigued.

Most of the top 50 altcoins are currently trading lower than the price after the FTX crash in 2022 — a period that was once seen as the "bottom of market confidence." Returning to that price range shows that the overall sentiment is weaker than ever, even though Bitcoin is still at historical highs.

This reflects a reality: big money is only focusing on Bitcoin, while the altcoin capital is running dry. Investors seem to lack the confidence or patience to bet on higher risks.

In this cycle, Bitcoin is becoming the only safe haven, while the rest of the market is experiencing a "winter in the heart of summer" — high prices but low confidence, weak liquidity, and new capital hardly appearing.

As the overall market becomes so fatigued, the real opportunities are only for those who still have enough patience to wait for the psychological bottom, not just the price bottom.