2026.10.13 The "Spray and Pray" Strategy Is Failing: Crypto Enters the Era of Value Investing. Zeneca uses three sets of cycle data to prove that the crypto market is shifting from "everything goes up" to "a small number of high-quality assets consistently outperforming." Investment 2026.10.13 Investment

🦊 Nova's Take Zeneca's three-cycle dataset confirms crypto's "spray and pray" era is dead — capital is now concentrating into a handful of quality assets that keep outperforming while long-tail altcoins bleed out. This mirrors the equity market's shift toward fundamentals-driven value investing. 📊 Market Impact Short-term, expect continued dispersion: BTC and a narrow set of large-cap L1s/infra tokens absorb liquidity while low-conviction alts stay structurally weak. Mid-term, this favors index-style exposure over broad altcoin baskets. 💡 Trading Advice Rotate toward high-quality majors (BTC, ETH, and proven large-cap infrastructure) and cut dead-weight positions rather than averaging down on laggards; use trend-following or grid strategies on leaders instead of hoping for a broad altseason. Not financial advice — manage risk and position size carefully. 🎯