The current market landscape is somewhat delicate — Bitcoin and Ethereum are in a sideways consolidation, trading volumes have hit new lows, order book depth is far from ideal, and market enthusiasm has clearly cooled down. The problem is that the sentiment towards mainstream altcoins has quietly shifted.

Represented by public chain ecosystem tokens like Avalanche, Sui, and Arbitrum, they are already in the final pressure zone of a flash crash. Against the backdrop of liquidity exhaustion in the market, once large sell orders hit the market, these tokens will find it difficult to absorb the sell-off, and short-term declines could reach 30-50%.

The significance of this adjustment is to deflate the bubble. Once completed, it will actually lay a solid foundation for subsequent market movements. In other words, what seems like a crisis is actually a clearance — the opportunities may be right around the corner. At this stage, we still need to stay vigilant, especially since the short-term risks of these public chain tokens cannot be ignored.