Now many people blame the inability of altcoins to rise on the lack of interest rate cuts and liquidity, eagerly hoping that the Federal Reserve will show mercy and bring relief. However, I believe that even if interest rates are cut, altcoins won't see any significant improvement. Many of those hoping for rate cuts have developed a path dependency on 2021, where the epic global monetary expansion was a crucial factor in the bull market. More importantly, there has been a surge of innovation in the crypto space, along with an overwhelming belief in Web3 across various global industries. Nothing is more convincing than the narratives around who runs faster and the big casino of crypto, competing instead on who can hold on longer with diamond hands. Therefore, after interest rate cuts and monetary expansion, there will be a reservoir that can absorb it.

Is the recent bull market in crypto and stocks related to interest rate cuts? Isn't it more about the scarcity of assets? Why do many in the crypto community have absurdly low estimates for Circle's market value, only to be shocked by a fourfold drop at opening? Isn't it because the stablecoin concept in the U.S. stock market primarily revolves around Circle, while you can't even say that you can buy the stablecoins in the crypto market, let alone count them?

So even if liquidity is injected now, where is the reservoir? It's with BTC, with only a little trickling down to ETH and SOL. As for altcoins? "Finally, we've waited for liquidity to come, hurry up and issue coins!"