Secondary markets and on-chain are completely different fields, each with their own advantages and issues, and their cycles are not the same, so there’s no need to underestimate each other. If BTC breaks out of consolidation, the secondary market will have more certainty and opportunities with large capital capacity;
If the altcoin season doesn't come, there are more on-chain opportunities, and there are occasionally lottery tickets for getting rich quickly, but it can be bloodier and more brutal; apart from a few that have sustainability, basically, they just come in waves and then disappear.