PANews reported on December 3 that Ki Young Ju, founder and CEO of CryptoQuant, tweeted that this round of altcoin season is different from previous ones and presents greater challenges, with only a few projects able to stand out. Despite positive market sentiment, new liquidity is limited. He noted that Bitcoin is building its own 'paper layer two ecosystem' through ETFs, MSTR, and funds, gradually decoupling from the cryptocurrency ecosystem, which has led to a weakening correlation between altcoins and Bitcoin. Some altcoins have already shown independent trends, attracting new liquidity. Ki Young Ju believes that altcoins have two paths: one is to create paper derivative versions similar to Bitcoin, and the other is to build a real internet currency ecosystem using stablecoins or Bitcoin. He suggests that investors pay attention to altcoins with the potential for these two paths and hold them for the long term.
He also pointed out that Coinbase's Bitcoin trading volume significantly decreased over the weekend, indicating that institutional brokers primarily trade on weekdays. The gap between weekday and weekend trading volumes has continued to widen over the past two years. He warned investors to avoid shorting Bitcoin until this trend reverses, or they may face liquidation risks due to institutional investors (such as Michael Saylor and Bitcoin ETF participants).
