In this cycle, there shouldn't be a altcoin season.

In the last cycle, the limited number of cryptocurrencies saw speculative funds shift from BTC to altcoins, creating an altcoin season. This time, due to the massive emergence of low-market-cap meme coins on-chain, and the diversion of funds by spot ETFs. The speculative funds that originally flowed toward mainstream altcoins like ETH, DOGE, and PEPE are now being massively redirected towards these meme coins and ETFs. At the same time, the politically themed meme coins that Trump has prominently endorsed have stirred market excitement, further leading to a decline in liquidity in the crypto space.

Altcoins are no longer exhibiting the collective characteristics of rising and falling together; the so-called concept of 'altcoin season' has quietly disappeared, but there will be bursts in various altcoin sectors, such as RWA tokens achieving a 15-fold increase in this cycle, while other altcoin sectors have faced setbacks.