Looking at BTC's recent plunge, it directly dropped to 80,000. Many people are asking, will it happen again? To be honest, that's not the most heartbreaking question. The most awkward part is actually the performance of altcoins—they basically follow the trend of falling without rising, and 99% of them can't escape.

What does this reflect? There simply isn't that much real money flowing in the market. Retail investors have run out of pockets, and what about institutional big funds? They've long since moved to hedge or speculate in gold and silver. In the crypto world, it's basically a tool for speculation; when something really goes wrong, big funds run faster than anyone else—this is an undisputed fact.

Since the start of the pandemic until now, global economic issues have been popping up frequently, and countries are all shouting about a tough environment. No matter how good the data looks, it has to return to reality—the economic downturn backdrop combined with the unlimited overdraft of alpha systems on trading platforms has dealt a significant blow to the secondary market.

So the question is: will altcoins迎来寒冬 (face a cold winter)? Or is this just a market adjustment, and there will still be opportunities for explosive growth later? What do you all think?