This wave of market makes me feel very similar to last year in March and April, when BTC broke the new high of 73k in mid-March, then pulled back to 60k, and returned to 72k in early 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 highs.

In the previous wave, the strongest WIF increased more than tenfold in a month, while the relatively strong coins in this wave have shown similar performance from their bottoms, such as Moodeng 17 times, Fartcoin 8 times, Virtual 6 times, and many medium and small market cap altcoins have also seen increases of 2-5 times. However, from the sentiment on Twitter, people are still eagerly awaiting the altcoin season.

The reason behind this is probably still due to the disconnect between BTC and altcoins. The anticipated altcoin season may be triggered by a clear signal of Bitcoin reaching new highs, leading to a broad increase. The reality is that the price increases of most altcoins had already completed before Bitcoin reached new highs, and what remains is only a continued decline amidst Bitcoin's ongoing fluctuations.