[Matrixport: Low Retail Participation, Lack of New Narratives, and Token Sell-offs Lead to Continued Pressure on Altcoins] Odaily Planet Daily reports that Matrixport released today's chart, stating that the anticipated altcoin rally over the past year has failed to materialize. In previous cycles, Bitcoin's rise typically led to capital spillover, gradually flowing into the altcoin sector. However, in this cycle, this transmission mechanism has noticeably weakened, primarily due to the following reasons. First, retail investors, a key driver of demand for altcoins, have shown relatively low participation in this cycle. At the same time, many crypto projects lack new narratives strong enough to drive the market and fail to provide solutions with real-world application value. More critically, the market continues to face sustained supply pressure from early investors. Continuous token unlocks and liquidity releases have brought new sell-offs, making market rebounds more likely to be hindered on the supply side. As a result, altcoins remain under overall pressure, and investor sentiment has generally been dampened. However, there are still localized strong performers in the market, and such opportunities can often be identified through simple market structure signals.