Bitcoin could bottom in October, altcoins are ‘basically dead,’ Swan CEO says
I've seen this movie before. Every cycle, someone calls altcoins dead right before the weirdest shit starts ripping. Swan's CEO has a point that BTC dominance is sticky, but saying everything else is dead ignores how brutal this bear has already been. SOL at $75 and ETH at $1,878 are down 70-80% from peaks; most alts are already pricing in extinction.
My take: October bottom for BTC feels plausible given seasonality and the Fed's likely pause. But the real signal for alts isn't price—it's liquidity. Our in-house thermometer reads 23°, which is cold, but not frozen. That's historically when smart money starts accumulating quality names like $LINK (up 2% today) or $SUI, not when they rotate into meme garbage.
Risk? If BTC does bottom in October, it might just grind sideways into year-end. That kills alt leverage and makes dead things deader. Peer check: look at $AVAX down 2.3% today versus $LINK green—that's the market favoring utility over hype. I'm not calling an alt revival, but I'm not burying them either.