The traditional "altseason" may truly be over. The core viewpoint can be summarized as: the market has transitioned from a "universal rally" phase to a "structural differentiation" phase dominated by institutions. This is mainly reflected in the following points: Capital flowing toward the "mainstream": As Bitcoin and Ethereum enter traditional finance through tools like ETFs, institutional funds are more inclined to allocate to these verified "blue-chip" assets and the RWA (Real World Assets) sector backed by tangible assets. By contrast, altcoins lacking fundamental support are facing capita