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Arthur Hayes Explains How Fear Hid the Altcoin Season in Plain Sight

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Arthur Hayes, co-founder of BitMEX, explained that fear kept many investors from seeing the altcoin season unfolding. He noted this cycle was different, with only a few coins like Solana and Hyperliquid rising. Investors waited for confirmation from headlines or social media. Hayes also pointed out that liquidity returned without traditional QE. He highlighted the growing role of privacy-focused projects like Zcash in the next market phase.
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