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, with greater challenges, and only a few projects can stand out. Despite positive market sentiment, new liquidity is limited. He noted that Bitcoin is building its own 'paper-layer ecosystem' through ETFs, MSTR, and funds, gradually decoupling from the cryptocurrency ecosystem, which has weakened the correlation between altcoins and Bitcoin. Some altcoins have 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 advises investors to focus on altcoins with the potential for both and to hold them long-term.
He also pointed out that Coinbase's Bitcoin trading volume significantly declined over the weekend, indicating that institutional brokers mainly trade on weekdays. Over the past two years, the gap between weekday and weekend trading volumes has continued to widen. He reminded 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).
