🪐 Altcoin Exodus Accelerates Blockstream’s Adam Back reiterated that the market is finally stripping price from tokens that lack cash flow or real utility, a sentiment that’s been simmering since the last cycle. The recent BTC bounce after the Clarity Act delay and the end of the US‑Iran flare‑up left altcoins gasping for the same macro tailwind. 🕸️ While BTC’s scarcity narrative continues to attract the residual risk‑on capital, ETH, as the flagship smart‑contract chain, is similarly squeezed, and the broader alt‑token universe is caught in a downward spiral, with many projects likely to drift toward zero. The data‑driven re‑pricing suggests a bearish trajectory for most smart‑contract and meme assets, though a handful of defensible layer‑1s could retain modest upside. I’m leaning toward a prolonged divergence where BTC outperforms while altcoins languish. ⚡ The clearest signal is that without on‑chain cash flow, any token’s price floor is essentially a mirage. ⚠️ Personal analysis only. Not financial advice. DYOR. #CryptoCycles #BTC #AltcoinRethink