Analyst: This crash may be a cycle-ending event, and many altcoin projects may never recover from failure.

According to ChainCatcher, DeFiance Capital researcher Kyle posted on social media that, judging from the current market sentiment, the last time we saw a situation like this was during the collapse of FTX or Celsius. This plunge can basically be considered a cycle-ending event, yet this time BTC and ETH have remained remarkably stable. The evolution of the crypto industry complex is truly astonishing, but altcoins are clearly repeating the same tragedy—despite my repeated warnings over the past few months, I never expected it to be this brutal.

In short, this may not be the "best" time to bottom fish, but it is definitely the time when you "should" be buying the dip. Extreme panic has already been released, and the market is building a bottom, although there may still be room for further downside. Looking at the bigger picture, we are definitely closer to the bottom than to the top. Asset selection is crucial at this moment, as many projects may never recover their vitality.