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Why does capital always return to BTC first whenever the market tightens, rather than altcoins? Many interpret this as "BTC is stronger," but I believe it's not really about strength or weakness. It's about the market searching for assets that can survive. Once liquidity starts to contract, the first reaction of capital is not to chase yield, but to retreat to the most universally accepted, easiest to exit, and easiest to reprice asset—BTC holds this position. The problem with altcoins has never been that they don't rise fast enough, but that when risk appetite declines, no one wants to be the first to take them on. You'll notice that in a bull market, altcoins are about resilience, but in a bear market, altcoins compete over who bleeds first; BTC may not be the strongest, but it is often the first anchor to be reaffirmed by the market. Simply put, altcoins profit from sentiment, BTC profits from consensus, and consensus is worth far more than stories when the market is tense. $BTC $ETH $ETH #从降息到加息，联储分歧全公开 #财报观察员：AMD与SpaceX交卷在即，Circle压轴 #Palantir营收增93%，盘后涨13%