Many people now feel that altcoins have cooled off after 1011, but this cannot be generalized and should be viewed separately.

From a funding perspective, this liquidation has basically shattered all the market's fantasies. Originally, everyone was hoping that DAT could attract some new money from outside the circle, but now the situation has changed. Who would still dare to invest in assets that could plummet 60% or 70% in just one hour? This incident has not only severely damaged confidence within the circle but has also completely discouraged outside capital. In addition, many market makers have been taken down in this wave, and now some small coins are being continuously sold off. It is estimated that some small market makers are already on the brink of liquidation.
So, if it refers to that kind of flourishing alts season, it can basically be declared over.

However, from the perspective of leverage liquidation and market reset, some alts may still outperform Bitcoin. Just like in 2022, even in poor market conditions, there will always be some coins that get ignited due to their themes. As long as the main chips are concentrated enough, a wave can still be stirred up.

Especially those fully circulated coins, without VC pressure, and whose teams have long given up their tokens, are worth paying more attention to. The fact that these projects have survived for so long indicates that there are still people willing to buy in at the bottom of the cycle, preparing for the next round of surge.

After the wave of liquidation on 1011, the leverage in the market was almost cleared out. If there really is another bull market coming, those major players might have already started quietly accumulating. Although the bull market is probably over 80% now, the craziest final stage hasn't arrived yet. In the next six months to the first half of next year, as policies like interest rate cuts and halting balance sheet reduction gradually take effect, liquidity will definitely return. By then, Bitcoin is very likely to set new highs. #ETH链上活动升温