Bitcoin may bottom in October, altcoins ‘basically dead’: Swan CEO

Klippsten's call frames the current cycle as one where capital concentrates in Bitcoin while the long tail of altcoins loses relevance, a shift with direct implications for RWA tokenization. If the thesis holds, projects pitching tokenized real-world assets as an altcoin-adjacent bet face a harder fundraising and narrative environment, while TradFi-integrated structures gain relative appeal. The open question is whether the altcoin malaise he describes actually redirects builder and investor attention toward RWA infrastructure, or simply deepens a broader risk-off stance across the sector.