Report on the situation of altcoins

The market value and exchange rate of altcoins have been adjusting for several weeks and are now again approaching previous lows. Whether it will continue to adjust this week, I think we need to observe the trend for about a month.

From a liquidity perspective:

The delay in the altcoin season was largely due to the on-chain market siphoning off too much speculative liquidity. For example, when Pumpfun launched its coin, it was very popular and attracted a lot of attention and funds. Now, the on-chain activity is not as vibrant, and even Pumpfun's coin launch is starting to face resistance.

If the altcoin season does not arrive under these circumstances, it really can't be justified.

More importantly, from the beginning of the year until now, the total amount of stablecoins has been steadily increasing. Even if these funds are relatively dispersed, it should, in theory, lead to some inflow into the market, which would drive the market up.

Going forward, I won't set too many expectations; I just hope Bitcoin can stabilize its fluctuations in the next 1-2 months, then experience a new high, allowing altcoins three weeks to recover, and have a small altcoin season before this round of the bull market ends.