Report on the Market Situation of Altcoins
The market capitalization and exchange rates of altcoins have been adjusting for several weeks and are now approaching previous lows again. Whether this adjustment will continue within this week, I believe we still need to observe the market trends for about a month.
From a liquidity perspective, the previous altcoin season has been delayed largely because too much speculative liquidity has been siphoned off by the on-chain market. For example, when Pumpfun launched its token, it was extremely popular and attracted a lot of attention and funds. However, the on-chain market is no longer as active, and even Pumpfun's token is starting to face resistance.
If in this situation the altcoin season still does not arrive, it is indeed difficult to explain.
More importantly, from the beginning of the year until now, the total amount of stablecoins has been steadily increasing. Even though these funds are relatively dispersed, logically, a portion should have flowed into the market, which should have driven the market up.
Moving forward, I won't make too many expectations; I just hope Bitcoin can stabilize in the upcoming 1-2 months, then break out into a new high, allowing altcoins a three-week period to absorb some liquidity, create a small-scale altcoin season, and then conclude this round of bull market.
