Deep Tide TechFlow News, January 10, CryptoQuant CEO Ki Young Ju stated that although the market capitalization of Bitcoin has doubled, the total market capitalization of altcoins has not yet broken through historical highs, and the market is in a zero-sum game state. Currently, the altcoin market mainly relies on internal capital rotation, lacking new capital inflows. It is expected that only a few projects with strong application scenarios and market narratives will survive in this cycle.