Nobody wants to take on new risk for coins with old narratives, imo. Maybe it will lead to an extended cycle for OHM forks/stablecoin-pair staking/farming. The passive incomooooor.
This is like peak fear I’ve seen from CT all year, which can be a really easy counter-trading signal, but this is a much different atmosphere than the summer lows. Feels like the dips most wanted they have already bought.
Yeah I’m ready to accept that sept-Oct was a bull trap/deviation for alts, Nov was complacency and 69keks was the EOY top just didn’t push as high as anyone wanted. I think if it broke out higher I would have accepted it for what it was sooner.
I feel like we have to move beyond pfps and virtual galleries to get another true NFT run but I think art Basel could spark another small run for big boy “collectors” that could create a little trickle down effect