The horn of the altcoin season seems to have sounded, but this feast is destined to be unique compared to the past. Analyst 2Lambroz believes that the prosperous period for altcoins may have quietly begun, but he warns that the market ecology has undergone profound changes. 'Investors are eager to try, but lack confidence in any compelling narrative.' Unlike the nationwide frenzy of 2021, the presence of retail investors has nearly disappeared today. Traders are more inclined toward short-term operations, with a significant reduction in the willingness to hold positions long-term, and the speed of capital flow has accelerated unprecedentedly.

Technical trader Moustache is full of confidence and firmly bullish on the prospects of altcoins. He presented a chart revealing that after a phase of accumulation, the altcoin market often experiences explosive growth. The current market structure is highly reminiscent of the cycles in 2016 and 2020, and he boldly declared, 'The altcoin season of 2025 has officially begun!'

However, optimism is not the main melody of the market. Commentator Rekt Fencer poured cold water on this, pointing out that since last December, most altcoins have plummeted by 90%. This week's slight rebound of only 10% has triggered excessive enthusiasm, which he scoffs at, sarcastically saying, 'Is this the golden age of altcoins we have been waiting for?'

The arrival of the altcoin season seems imminent, but its unique market dynamics remind investors: this wave will be vastly different from the past, with opportunities and risks coexisting, requiring extra caution.