"If you don't look at BTC and only look at altcoin, I thought it was 312." This is a helpless sigh from a community member.

This exclamation is not unfounded. The on-chain data presents a grim scene: the relentless red downtrend devours the community's hope, causing widespread distress. Taking the BIO ecosystem as an example, $URO plummeted by as much as 36.2%, while $RIF also declined by 21.8% without showing weakness.

The torrent of profit-taking

Since Trump's confirmation of returning to the White House, the altcoin season has surged like a tsunami, with crazy gains and intense and cruel PVP. The strong survive, creating a new generation of wealth in the crypto world.

For example, a smart money Address 'GcYC 1...quyt 6' had a low point Build a Position $RIF in late September when the DeSci Meme narrative had not yet To The Moon, and made a profit of $1.05 million with only $14,000, with a return rate of 7400%. This is a myth that any trading market dares not to imagine, and can only happen in the crypto world.

For example, according to the monitoring data of Lookonchain, in just 20 days, a trader used $800 to buy URO and made a profit of $572,000; and used $300 to purchase RIF and earned $957,000. This means that he increased the value of the Position to $1.62 million with an initial capital of $1,100, achieving an amazing rise of 3,503 times and 714 times respectively.

There are countless examples like this. The profitable funds gradually sell AltCoins during the pump process, resulting in a big dump of AltCoins, leading to today's 'altcoin 312'.

Where will these profitable funds go? Today's market also gives us the answer.

Just as alts collapsed massively, the price of Bitcoin broke through 97,000, hitting a new high. Funds were withdrawn from the alts market, flowed back to the trading platform, and ultimately flowed into Bitcoin. Bitcoin, once again, reaffirmed itself as the anchor in this market with its price.

The end of AltCoin is BTC

At this moment, I recalled the story of SBF once wanting to control BTC below $20,000.

In the case of the FTX incident and the trial of SBF, Caroline Ellison, CEO of Alameda Research and also SBF's ex-girlfriend, testified and provided evidence that SBF instructed Alameda to sell BTC continuously if it exceeded $20,000 in an attempt to keep the BTC price below $20,000.

As for the reason for doing so, although they did not mention it in court. Insiders in the community gave the answer: "The usual means of market makers on trading platforms is to boost Crypto (the main targets are ETH and several other Top 20 currencies), while suppressing the Exchange Rate of Crypto/BTC. This is not only FTX's practice, but also other trading platforms."

Doing so can slowly erode people's confidence in Bitcoin, attracting all the funds to Crypto. Once users' trading habits are cultivated, they can smoothly dump a huge amount of junk goods to lower-level players.

After all, after getting used to the volatile trends of the crypto world and the overnight doubling of K cups, how many people have the patience to hold onto BTC even if it almost doubles?

Today, the truth remains the same. The unique enthusiasm and impetuosity of people in the crypto world have never changed. And those truly big players have long understood the value of Bitcoin, exchanging your BTC for rubbish altcoins, patiently waiting for the long-term payoff.

The best example is MicroStrategy. As of November 21, MicroStrategy's BTCHoldings hit a new high: 331,200 BTC, with an average purchase price of $49,874. Easily profitable at more than twice the cost.

Not to mention giants like BlackRock on Wall Street, if they start buying BTC in advance when applying for BTC ETF, their costs will be mostly controlled between 20,000 and 60,000 BTC, and no one knows how many chips they have accumulated.

Perhaps, for ordinary investors, the wisest choice is to hold BTC and have fewer fantasies of overnight wealth. Use a large position to lay out BTC, only use a small portion of capital to 'gamble'. Do you really think you are smarter than BlackRock and MicroStrategy, these Wall Street elites?

Finally, to end with a story meme that I saw on Twitter today:

"When you were 100,000 US dollars, looking at the altcoin that was still trapped for 30 points in your hand, you forwarded the short message that the BTC of the Financial Associated Press exceeded 100,000 US dollars, and your relatives and friends praised you, saying that you must have made a lot of money when you entered the market, and you replied with tears in your eyes: You don't make much, make a little money."

I hope this is not a reflection of most of us.