Bull Market Doubts and the Disappearing Altcoin Season: Is This a Breakdown of the Pattern or a Calm Before the Storm? Looking at Dogecoin in the account, during the last bull market it surged to 0.7 yuan, but this time it stalled at 0.4 yuan after reaching a high—such a sense of disappointment is truly hard to put into words. What’s even more confusing is that old familiar topic: Will the altcoin season come again or not? If this bull market ends abruptly and directly transitions into a bear market, it would completely overturn the cycle patterns of the past ten years. Looking back at history, at the end of each cycle, retail investors are at their craziest, with altcoins running wild and hundreds of times gains everywhere. However, in the past two years, except for Bitcoin soaring steadily and Ethereum repeatedly struggling below 5000, 99% of altcoins haven't even touched their previous highs. This “index bull, individual stock bear” phenomenon indeed makes people question life. But does this really align with the logic of bull and bear transitions? I don’t think so. First, bull markets usually don’t die in silence but end amid celebration. Currently, in the market, we’re not seeing the frenzy of altcoins; instead, it’s filled with despair and panic selling. Historically, the madness at the end of a bull run is precisely when the main players unload their holdings. Without pushing altcoins out of profit-making effects, who will take over the positions? Everyone is losing money now, so how can the main players exit? Second, the rhythm of this cycle has clearly been slowed down by ETFs and macro factors. Bitcoin’s steady rise looks more like a game of stockpile betting. But I tend to believe that the altcoin season isn’t gone but just delayed. If this big cycle doesn’t have an altcoin season, then we won’t need to consider altcoin season in the future. $BTC ‌$ETH ‌

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Bull Market Doubts and the Disappearing Altcoin Season: Is This a Breakdown of the Pattern or a Calm Before the Storm? Looking at Dogecoin in the account, during the last bull market it surged to 0.7 yuan, but this time it stalled at 0.4 yuan after reaching a high—such a sense of disappointment is truly hard to put into words. What’s even more confusing is that old familiar topic: Will the altcoin season come again or not? If this bull market ends abruptly and directly transitions into a bear market, it would completely overturn the cycle patterns of the past ten years. Looking back at history, at the end of each cycle, retail investors are at their craziest, with altcoins running wild and hundreds of times gains everywhere. However, in the past two years, except for Bitcoin soaring steadily and Ethereum repeatedly struggling below 5000, 99% of altcoins haven't even touched their previous highs. This “index bull, individual stock bear” phenomenon indeed makes people question life. But does this really align with the logic of bull and bear transitions? I don’t think so. First, bull markets usually don’t die in silence but end amid celebration. Currently, in the market, we’re not seeing the frenzy of altcoins; instead, it’s filled with despair and panic selling. Historically, the madness at the end of a bull run is precisely when the main players unload their holdings. Without pushing altcoins out of profit-making effects, who will take over the positions? Everyone is losing money now, so how can the main players exit? Second, the rhythm of this cycle has clearly been slowed down by ETFs and macro factors. Bitcoin’s steady rise looks more like a game of stockpile betting. But I tend to believe that the altcoin season isn’t gone but just delayed. If this big cycle doesn’t have an altcoin season, then we won’t need to consider altcoin season in the future. $BTC ‌$ETH ‌