📉 Is the altcoin season a thing of the past? Why the "universal rally" may not return
Many traders are still eagerly waiting for a classic altcoin season like those in 2017 or 2021 — the crazy times when "everything you buy goes up." However, the market reality of 2026 tells us: the rules have fundamentally changed.
Why has the market changed?
Liquidity is highly concentrated: As experts from Wintermute point out, liquidity has become extremely scarce and uneven. With the popularity of ETFs and deep involvement of institutional investors, funds are primarily flowing into core assets like BTC and ETH. These "big funds" show no interest in random small coins (Shitcoins). Stock game and asset oversupply: Thousands of new tokens are launched every day, and limited funds are extremely diluted. The market no longer has enough momentum to push all assets to double at the same time. Shift from speculation to "structural demand": Analysts from Delphi Digital and Grayscale agree that investor choices are becoming more specialized. Funds are concentrating on projects that have the following characteristics: protocols with real income. Projects with token buyback plans. Applications with mature business models, rather than just relying on a "roadmap."
What does this mean for us?
The so-called "full-blown explosion" may not happen again. Instead, we may see sporadic bursts. In 2025, the duration of altcoin rallies was three times shorter than in 2024. This means the era of "easy money" is over, and the era of deep research (DYOR) has arrived.
The market is not dead; it has simply matured. 🧠
Are you still clinging to the fantasy of a "universal correction"? Or have you already adjusted your positions to projects supported by fundamentals? Feel free to discuss in the comments! 👇
#山寨季 #加密货币 #交易策略 #Wintermute #比特币
