According to Bloomberg, as risk appetite declines, small-cap tokens in the crypto market are experiencing significant capital outflows. Market maker Wintermute's OTC report shows that the median rally cycle for altcoins in 2025 is only about 20 days, noticeably shorter than the previous 40–60 days. Since October, the open interest in altcoin futures has dropped by approximately 55%, representing over $40 billion in exposure disappearing. Market participants are increasingly shifting to trading assets like Bitcoin and Ether, which have higher liquidity and stronger correlations with macroeconomic factors. https://www.(wublock123.com)/index.php?m=content&c=index&a=show&catid=6&id=55028