Some thoughts on altcoins:

Wall Street dominates the current bull market: This round of bull market is dominated by Wall Street. If the ETF is passed, it may be the biggest black swan event for altcoins, because institutional funds have a low recognition of altcoins.

High market value of altcoins: Despite market fluctuations, the overall market value of altcoins remains at a historical high.

Market value growth of new varieties: Compared with the previous bull market, the market value of new varieties has increased from tens of millions of dollars to hundreds of millions or even billions of dollars, but the incremental funds in the market are limited. In addition, these new varieties are also facing a large number of unlocking phenomena.

Market rationalization: The intervention of institutions makes the entire market more rational and the flow of funds more cautious.

In general, after the big wash, the market will usher in a bull market for sector altcoins, high-quality altcoins will be favored, and some altcoins may gradually decline or even return to zero.