In the past, $BTC had finished sucking blood, and funds overflowed to altcoins. Now: when BTC rises, everyone chases BTC, and altcoins are directly sold off.

The fundamental reason is that the market structure has changed. ETFs have provided traditional funds with a direct channel to buy BTC, without needing to go through altcoins for crypto exposure. And what about retail investors? They see BTC rise and FOMO, see BTC fall and panic, and altcoins have become pure emotional release tools.

The so-called "altcoin season" is already a fairy tale from the last cycle. Now it is a bipolar world where BTC reigns supreme, and other coins are just accompanying runners.

The truly smart money has long understood this principle: either hold BTC or hold cash; altcoins are just tools for short-term PVP.