As the crypto market enters the last quarter of 2025, the long-awaited "altcoin season" still lingers in the fog. This market, dominated by news and uncertainty, is playing out a game led by Whale institutions, while ordinary investors often become passive participants caught in the trap of fluctuations. From the flash in the pan of local market conditions to the chain reaction of unlocking and delisting, the predicament of the altcoin market has long surpassed the scope of the "waiting period", becoming a survival battle that tests cognition and composure.

1. News-driven market: Local carnival under Whale's trap
In 2025, the crypto market has long since departed from the early "technology-driven" underlying logic and has instead entered an extreme state of "news-driven market." An unverified rumor of cooperation, a vague policy interpretation, or even a few movements in a Whale's wallet can ignite the market for a certain altcoin in a short time. However, such rallies often lack fundamental support and are more of a routine operation by institutions to "pump and dump"—when ordinary investors follow the trend and rush in, the market quickly turns downward, leaving behind a screen full of trapped investors.

What is even more concerning is that the delay of the "altcoin season" is not coincidental. With the rampant issuance in the primary market, the number of newly launched coins in the first half of 2025 has exceeded 3,000, of which nearly 70% lack practical application scenarios, becoming "tools for harvesting leeks." These coins often experience a brief pump after their launch, and are subsequently delisted by exchanges due to liquidity exhaustion, making it difficult for investors to even grasp the opportunity to close their positions. Data shows that in the third quarter of 2025, the average number of altcoins delisted per month by major global exchanges reached over 120, and "sudden delistings" have become the norm in the market, further exacerbating investment risks.

2. The cognitive traps of investors: getting lost in the "dance of the demons"

The fluctuations in the crypto market have always been accompanied by extreme emotions, particularly evident in 2025. When a certain sector experiences short-term hype, the scene of "chaos and rising fortunes" always attracts a large number of investors to follow suit. They are eager to chase the myth of "hundredfold coins," yet overlook the bubble nature behind such market conditions—historical data has long proven that the phase of "chaos and rising fortunes" is often a signal of the market peak, rather than the beginning of an opportunity.

The more common dilemma is the investors' "reverse operation": overly hesitant in the face of normal pullbacks, fearing that losses will expand and thus not daring to add to their positions; when the market truly hits bottom, they panic and "cut their losses quickly," ultimately "falling before dawn." Behind this behavior is a lack of understanding of market cycles and the result of being swept away by short-term fluctuations. In the third quarter of 2025, a mainstream altcoin experienced a 20% pullback, with daily closing volumes reaching historical peaks, and then the coin rebounded to previous highs within just two weeks, causing a large number of investors to miss the opportunity to recover their investments due to "cutting at the bottom."​

3. The Way to Break the Deadlock: Return to the Mainstream, Respect the Cycle

In the new market landscape of 2025, "hedging" and "certainty" have become the core logic of investment. For ordinary investors, staying away from "air coins" that lack fundamentals and focusing on mainstream altcoin tracks is the primary choice for reducing risk. These coins often possess mature application ecosystems, stable community support, and priority protection from exchanges, which can help withstand part of the risk even in the face of market fluctuations.
At the same time, investors need to establish a "cyclical mindset": the alternating bull and bear markets in the crypto market have never disappeared, and short-term fluctuations should not be the only basis for decision-making. In the face of a pullback, it is necessary to rationally judge whether it is a normal adjustment; when facing a delayed market, patience is required to wait for the true trend signals, rather than being swept away by anxiety. Remember, the essence of investment is the realization of cognition. In a market filled with chaotic news and various traps, maintaining composure and respecting the cycle is the key to navigating fluctuations.

The crypto market in 2025 is both a challenge and a sifting process. Those investors who can free themselves from emotional interference and focus on long-term value will ultimately find their own opportunities amidst the waves of the cycle; while those who are addicted to short-term speculation and chase false hype are destined to be eliminated by the market's traps. The market is never short of opportunities, but only those who respect the market and have the right understanding can truly seize them.