Don't be fooled by a sea of green candlesticks—the market is not in a full recovery but a brutal "capital filtering." 📊

The superficial rise does not mean capital is flowing back en masse; real liquidity remains highly concentrated. Most tokens are only seeing a brief bounce, and only a few projects are consistently attracting buying pressure, such as: $JELLYJELLY , $OPG , $SLX , $LAB , $BSB , $ALLO, $CHIP. These assets continue to absorb market funds.
Another group of projects still holds a glimmer of hope, including: $MEME, $EDEN, $HUMA, $ZKP, $METIS, but capital support is clearly weakening, and the slightest shock could cause them to collapse.
As for most other altcoins—$BEAT, $EDGE, $COAI, $TRUMP, $RAVE, $SPACE, $SOPH, $IP, $AVNT, $ZAMA, $OFC, $PIEVERSE, $VIRTUAL, $ACU—they are not crashing but are steadily losing liquidity amid low trading volume. 🩸 Even $H and $MEGA, their recent upward momentum is gradually fading.
The market's dominant structure remains unchanged:
🔸 $BTC determines the overall flow of funds
🔸 $ETH remains a key entry point for institutional capital
🔸 $SOL continues to act as a high-beta asset representative
🔸 $TAO and $WLD lead the AI track
🔸 $HYPE reflects market risk appetite
🔸 $DOGE and $ZEC are more like sentiment indicators
Now, blindly expecting a full-blown "altcoin season" could be falling into a trap set by the market. What truly matters is not the color of the candlesticks, but where the capital is flowing.