Recently, the price trends of small-cap altcoins have increased slightly compared to the lowest point in early April, but most are still weak and lack momentum. This tentative rise resembles drawing the letter W; it goes up a bit and then drops back down, rises again and then falls, wasting time while staying in the same place.

One reason for this is that Binance has a new section called Alpha, which promotes small market cap coins that may go on spot trading. Since there isn’t much liquidity in the market, this section has siphoned off some of the hot money. Therefore, the real big market for these small coins has not yet started.

The performance of other altcoins recently resembles a bear market; the current altcoin trends are even worse than in July and August of last year, so subjectively, I still lean towards thinking that this is not the right time to start a bull market.

As for those mainstream large-cap coins, although there has been a slight rebound recently, it’s like a person recovering from a serious illness who can only walk a few steps before needing to rest. Why? Because these coins still have a large number of trapped investors, and when prices rise a little, some people jump ship and run away. If they really want to soar, they first need to shake off those retail investors riding on their backs. This process takes time, but once the market is cleaned out, the final surge will definitely be explosive.