This wave of the market reminds me a lot of 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 a surge at the end of March. Currently, it seems that many altcoins peaked around 5.10-5.15. Even if BTC sets a new high on 5.22, most altcoins have not returned to their peaks.

In the last wave, the strongest WIF increased more than tenfold in a month, and this time, some relatively strong coins have shown similar performance from the bottom, such as Moodeng 17 times, Fartcoin 8 times, Virtual 6 times, and many small to medium market cap altcoins have also seen increases of 2-5 times. However, from the sentiment on Twitter, everyone is still eagerly anticipating the altcoin season.

The reason for this is probably still due to the disconnection between BTC and altcoin performance. The altcoin season that everyone is looking forward to may be initiated by a new high in Bitcoin as a clear signal for a widespread surge, but the reality is that most altcoins had their gains completed before Bitcoin's new high, leaving only continuous declines amid Bitcoin's constant fluctuations.