#Strategy加码BTC配置 Altcoins' liquidity is accelerating its decline, and the market's "bubble cleansing" has already begun.

Recently, everyone has felt the changes:
• Trading volume of most altcoins is decreasing month by month
• When prices rise, no one follows; when prices fall, there are severe sell-offs
• The enthusiasm in project communities has noticeably declined, and development pace has slowed down

This is not an isolated phenomenon but a structural adjustment of the entire market.

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**What exactly is the market doing?** My observation is that three things are happening simultaneously:

1. Eliminating pure concept projects—projects without real applications are being ruthlessly cleared
2. Cutting off false prosperity chains—public blockchains faking user traffic and hollow ecosystems are losing blood
3. Abandoning pure whale coins—tokens pushed by market makers and lacking fundamentals are coming to an end

**The contrast is very clear:**

The strategy of the past few years: project teams only needed a beautiful white paper, market-making support from exchanges, and retail investors' blind faith; these three conditions could trigger a wave of market movement.

Now it’s different: the market is starting to look at cash flow, user stickiness, and real on-chain activity.

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**Two reminders for everyone:**

Altcoins still have opportunities, but the era of "buying blindly and it will rise" is completely over. If a coin has no fundamental support, any rebound is just an opportunity for the main players to escape.

For ordinary investors, instead of chasing black swan riches, it’s better to focus on risk prevention. Choosing the right track and the right projects is key to surviving this cycle.

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