As of now, the Fed's RRP balance has decreased by $2.5 trillion from its peak, returning to the level of April 2021.
What does this mean for the market?
The end of Quantitative Tightening (QT) seems to be in sight.
It is worth noting that during the period when the Fed implemented Quantitative Tightening, there was never a 'altcoin season'.
Current market sentiment is at a low point:
Competition among developers and project founders is intensifying.
Supporters of ETH have even begun to remove their .eth identifiers in protest against the market.
Supporters of Bitcoin are selling spot BTC to buy ETFs.
In this context, the performance of altcoins is sluggish, as if the market is experiencing a significant crisis of trust.
However, history shows that extreme market sentiment is often a precursor to major turning points.
