'Worst Crypto Bull Market Ever': Why Bitcoin, Ethereum, XRP Traders Are Fed Up

Core Insights - Bitcoin (BTC) and Ethereum (ETH) traders are outperforming altcoin holders, leading to frustration among the latter due to notable underperformance [1] - Recent data indicates that holding major cryptocurrencies has been the only consistently profitable strategy in volatile market conditions [2] - The recent liquidation event was the largest in crypto history, affecting both bullish and bearish positions and resulting in significant losses for most participants [5] Performance Analysis - Active trading and diversification into altcoins have likely resulted in losses for many traders, contrasting with the performance of Bitcoin holders [4] - Two bullish traders realized over $17 million in profits with high win rates on BTC, ETH, and SOL, while bearish traders made around $35 million from short positions [6] - A trader who was liquidated during the October 11 crash rebounded by taking a long position on Ethereum, gaining $5 million on a $9.5 million stake [6] Market Sentiment - Scott Melker described the current market as the "worst crypto bull market ever," emphasizing that only Bitcoin holders have seen meaningful profits [3] - The absence of a true altcoin season in this cycle has contributed to the frustration within the crypto community [4] - The recent liquidation event has left many participants deep in the red, indicating a challenging environment for traders [5]