The last 24 hours in crypto marked a subtle but critical shift in tone at least that is what I see and what my co-workers at my fund see, from cautious optimism to early conviction. With total market cap hovering around $3.7–$3.8 trillion, Bitcoin reclaimed $115K and ETH led majors with a +5% gain, boosted by ETF flows and an overall pickup in on-chain activity. It’s the kind of day where prices didn’t explode, but signals quietly turned green across multiple sectors. Given there might be some slight pullbacks, but for sure unless there isn't some big swan event. Altcoins season is COMING!!! ETF inflows told the story first: Bitcoin ETFs snapped a multi-day outflow streak with over $91 million in net additions, while Ether ETFs brought in $35 million, coinciding with Ethereum hitting 1.87M daily transactions, its highest YTD, powered by stablecoins, memecoins, and pre-TGE positioning. BlackRock’s IBIT led the charge, reaffirming BTC’s institutional base. But what does this really mean, explain more below.. (1/3) 🧵👇

On the alt side, we saw the rotation narrative pick up speed. Pudgy Penguins pumped 12% off a Netflix announcement, blending NFT and memecoin energy. Ethena, Pendle, and even absurd names like FARTCOIN pushed volume, showing retail attention rotating from majors into yield, memes, and fun. But this isn’t just about volatility. Regulatory clarity advanced as the SEC declared LSTs non-securities, boosting protocols like EigenLayer and clearing the path for staking-backed ETFs. At the same time, the Tornado Cash verdict cast a long shadow over DeFi’s permissionless roots — reinforcing why institutional treasuries and compliant infra are gaining steam. SBI’s BTC-XRP ETF filing and Trump’s 401(k) crypto move signal a serious wave forming in regulated capital inflows. (2/3)

Behind the scenes, infra keeps going. MetaMask integrated Layer-1 Sei. Pendle dropped a new yield unit product. Build on Bitcoin (BOB) secured another $10M. And projects like Xion, Aptos, and Peaq positioned themselves within rising narratives like DePIN, tokenized real-world assets, and consumer-ready UX. If there’s one takeaway, it’s this: capital is rotating, but narratives are compounding. We’re moving from altseasons to altweeks, shorter windows, faster moves, more fragmentation. I don't think we will have a like 6 months of altcoin, it may be even shorter than we expect like 2-3 months, tops... Stablecoins ($267B market cap) now anchor these rotations, replacing BTC as the on-chain liquidity base. That said, where i live and work in Hong Kong, stablecoins is taking shape fast and hard and theres China money coming into it toooo Traders no longer follow a clean FIAT → BTC → ETH → alts cycle. They rotate directly from stables into AI, memecoins, PolitiFi, or RWA sectors, depending on which ticker’s flashing green. The rotation is happening faster, and it’s more competitive. If you’re not early, you’re forgotten. And if you’re not positioned before the TGE, the ETF, or the integration, you’re already too late. Right now? Might just be the quiet moment before everything wakes up. If you don't rotate capital, do check out my previous posts on rotating your attention or yapping on kaito infofi instead... position yourself accordingly.