Bitcoin's recent decline below $90,000 has highlighted a shift in the cryptocurrency market dynamics, as noted by Singapore-based market maker Enflux. Unlike previous corrections, altcoins and cross pairs have shown stability, indicating a transition from a liquidity-driven to a fundamentals-driven market. Tokens with tangible use cases, such as staking, ETFs, or real-world applications, are maintaining their value, while projects lacking clear utility or revenue have seen declines of 60–80%. Analysts believe this trend reflects a market focus on separating durable assets from speculative investments.