This wave of the market reminds me of last year in March and April, when BTC broke the new high of 73k in mid-March, then retraced to 60k, and returned to 72k at the beginning of April. However, many altcoins entered a long-term downtrend after peaking at the end of March. Currently, it seems that many altcoins peaked between May 10 and May 15. Even if BTC sets a new high on May 22, most altcoins have not returned to their peaks.

The last wave's strongest WIF rose more than ten times in a month, while this wave's stronger coins have shown similar performance from the bottom, such as Moodeng 17 times, Fartcoin 8 times, Virtual 6 times. Many small and medium market cap altcoins have also experienced 2-5 times increases, but from the sentiment on Twitter, everyone is still eagerly awaiting the altcoin season.

The reason for this is probably still due to the disconnect between BTC and altcoin performance. The altcoin season that everyone is looking forward to may be triggered by a new high in Bitcoin as a clear signal for a broad rally, but the fact is that the increases of most altcoins had already completed before Bitcoin's new high, and what remains is just continued decline amid Bitcoin's ongoing fluctuations.