Why is it that even though BTC is clearly in a bull run, most people's portfolios feel like they're stuck in a bear market? I used to think that as long as BTC went up, altcoins would eventually follow and catch up. But after experiencing a few market cycles, I realized that a bull market is never about universal gains—it’s about liquidity distribution. Institutions buy BTC because it has ETFs, depth, and exit channels. Ecosystem funds chase ETH and SOL because there are still users and trading volume there. Meanwhile, the tens of thousands of altcoin projects are fighting for increasingly limited attention. When BTC goes up 10%, they might only rise 3%. When BTC pulls back 5%, they’re the first to drop 20%. I used to convince myself to hold long-term by saying, "It went up dozens of times in the last bull run." But then I realized the project’s narrative was outdated, tokens were still being unlocked, and the team and early investors were selling their bags every month, while new buying interest kept dwindling. What I was waiting for wasn’t a catch-up rally—it was the slow death of liquidity. To judge whether it’s a bull market, you can’t just look at BTC. And you can’t assume your coin will pump just because the market is up. You need to see where the money is actually flowing, whether your asset is consistently outperforming BTC, and whether there’s real spot demand during the rally. The market entering a bull run doesn’t mean your portfolio is in a bull run too. Remember: A bull market determines whether there’s money in the market. But where the money flows determines who actually makes money. For altcoins without liquidity support, no matter how long you wait, spring might never come. #Crypto #BTC #ETH #Altcoins #BullMarket #CryptoTrading