Prospects for an altseason are becoming increasingly murky. Many investors are exercising caution and preferring time?tested assets, a trend reflected in Bitcoin's and Ethereum's market dominance. A decline in open interest in altcoin futures points to reduced speculative activity and growing concern about further price falls.

Wintermute data showing shorter altcoin growth cycles underscores the rising volatility and unpredictability in this market segment. Investors are finding it harder to identify profitable opportunities, prompting them to revise strategies and shift capital toward more conservative instruments.

A worrying sign is the lack of a meaningful recovery since last October's sell?off, which confirms that altcoins have so far failed to regain investor confidence. Falling liquidity and the migration of capital to other speculative assets raise further questions, suggesting that altcoins have lost some of their appeal as vehicles for rapid gains.

In the current environment, investors should conduct thorough due diligence before allocating funds to altcoins, given their high volatility and elevated risk. Portfolio diversification and a measured investment approach can help mitigate potential losses. It is possible that the era of indiscriminate altcoin speculation has ended and that a period of more considered investment decisions has begun.

At the same time, investment interest in the anonymous?coin sector is gathering momentum. That sector's combined market capitalization has reached a record $71 billion. Investors may wish to consider this area as a potential opportunity.

Trading recommendations:

Buyers of BTC are now targeting a return to $95,600, which would open a direct path to $97,300 and then to $99,400. The farther target is the peak near $102,100. A breakout of that level would signal attempts to restore a bullish market. On a pullback, buyers are expected near $93,600. A drop below that area could quickly push BTC toward $92,100, with a further downside target around $90,500.

As for Ethereum, clear consolidation above $3,372 would open a direct route to $3,505. The farther target is the peak near $3,664. Surpassing that level would strengthen bullish sentiment and renew buyer interest. If ETH falls, buyers are anticipated at $3,297. A move below that area could rapidly send ETH down to about $3,229, with a longer target near $3,154.

What we see on the chart:

- Red lines indicate support and resistance levels where either a price slowdown or active growth is expected;

- Green lines indicate the 50-day moving average;

- Blue lines indicate the 100-day moving average;

- Light green lines indicate the 200-day moving average.

Typically, a crossover or price test of these moving averages either halts market momentum or sets a new directional impulse.