The altcoin season of this bull market might be completely different from previous ones. Watching BTC fluctuate around 105,000 while most altcoins show no signs of life, this divergent trend is worth noting.
I carefully studied the data and historical cycles and found several key changes.
The flow of funds has completely changed. Previously, after BTC rose, funds would rotate into altcoins; now institutional funds only recognize BTC and ETH, continuously attracting capital through ETF and micro-strategy models.
Regulatory pressure is shrinking the survival space for altcoins. The SEC frequently issues subpoenas, and only a few compliant projects can survive.
Liquidity crisis. When BTC drops slightly, altcoins bleed heavily, indicating that market depth is too poor.
If Bitcoin truly falls to 9-9.5, I expect that high-quality altcoins (like TON and SUI that have real ecosystems) may correct by 20-30%.
Those worthless coins and low-quality coins are very likely to be cut in half and then cut in half again.
