The altcoin market just experienced a significant shake-up. According to Wintermute's latest analysis, roughly $40 billion flowed out of altcoins as traders wound down speculative positions. Even more striking: median bull runs have compressed dramatically to just 20 days so far in 2025. This compression signals a fundamental shift in market cycles—shorter windows of opportunity, tighter risk management, and less patience for prolonged rallies. Whether this reflects increased market maturity or simply tighter liquidity conditions remains a key question for traders positioning themselves in this environment.