The current Crypto Assets market presents a confusing picture. Although some coins have hit new highs, most alts have experienced brutal falls, with some even losing more than 80% of their original value. This situation raises the question of whether we are truly in a bull run.

At the same time, traditional financial markets such as the US stock market and A-shares are showing a vigorous upward momentum, creating a stark contrast. The cryptocurrency market, especially the altcoin sector, seems to be in a state of stagnation. This characteristic of high risk and high return was once the main reason for attracting investors, but now it has become the crux of the market's stagnation.

Looking at the secondary market, there are few projects that can achieve hundredfold returns, and even coins with returns exceeding ten times have become rare species. This situation reflects the brutality and uncertainty of the market. There are signs that large capital may be preparing for the last wave of harvesting, continuously offloading without any intention of boosting prices, raising concerns about whether this market is really heading towards its end.

If it weren't for Bitcoin and Ethereum still oscillating at high levels, the overall market scene would be even more bleak. The on-chain activities in the primary market also appear unusually silent, lacking vitality. In this situation, if capital does not take action to pump alts or create a few explosive meme coins to attract new investors, even if Bitcoin breaks through the $200,000 barrier, its significance to the overall market will be greatly diminished.

The decline in retail investors' enthusiasm will undoubtedly affect the interests of exchanges. Therefore, in the coming period, the altcoin market is likely to experience a rapid and brief trend. This trend may come suddenly and be fleeting; by the time people react, they may have already missed the best entry opportunity.

In this rapidly changing market, investors need to stay vigilant while also maintaining an open attitude towards the future of the market. Although the current situation is severe, the development history of the Crypto Assets market tells us that transformation and opportunities often arise at the most unexpected times.