While it is eagerly awaited when the rally will begin in altcoins that failed to show the expected performance against the Bitcoin rise, CryptoQuant CEO Ki Young Ju stated that only a few altcoins will be successful in this altcoin season.
CryptoQuant CEO X shared on his account that this altcoin season will be unusual and challenging, and only a few select altcoins will be successful.
Ju said that while market sentiment is positive, there is limited fresh liquidity.
Stating that Bitcoin is increasingly moving away from the wider crypto ecosystem, the famous CEO stated that liquidity has not shifted to altcoins due to ETFs, MicroStrategy (MSTR) and various funds.
Noting that altcoins once moved in correlation with Bitcoin, this correlation has now been broken, Ju said that only a few altcoins are attracting new liquidity and altcoins in general have started to move independently of BTC.
“This alt season will not be what you expect. It will be strange and difficult. Only a select few altcoins will succeed in this rally.
Market sentiment is good, but there is not much fresh liquidity.
Altcoins used to move together based on their correlation with BTC, but this pattern has now broken.
Altcoins now have two options: create wrapped versions like Bitcoin or establish a true internet money ecosystem using stablecoins or BTC.
Altcoin investors should find an altcoin that can do either one and hold it for the long term.”
*This is not investment advice.
