I am afraid that there will never be a "altcoin season" with a general rise in the cryptocurrency market in the future.

There will be no more general rise, which is also one of the signals that the dividends are gradually disappearing.

Why did there have an altcoin season in the past?

Because there are few altcoins.

The price of Bitcoin is high, and newcomers come in to play Bitcoin without dividends, but altcoins have the opportunity to make quick money, so they go to play altcoins. When Bitcoin fluctuates, funds will flow to altcoins, and the altcoin season will come.

Because the cryptocurrency market is relatively independent.

If you want to speculate in cryptocurrencies, you must enter the cryptocurrency market, and funds flow in this circle, and it is not easy to enter and exit. When Bitcoin goes sideways, funds flow to altcoins, and the altcoin season appears again.

And what is the situation now?

When Bitcoin rises, altcoins follow a small rise, and when Bitcoin falls back, altcoins immediately fall collectively. There are endless altcoins, but there is not enough funds to pull them all up.

In addition, Bitcoin has long been out of the circle. Now there are CME futures and spot ETFs. If you want to speculate in cryptocurrencies, you don’t have to enter the cryptocurrency market. You can directly operate in the US commodity market and US stock market. Now CME's holdings have caught up with Binance and OK, and the cryptocurrency market is on par with the traditional market. The funds that come in are directly in the US stock market. If they don't flow into the cryptocurrency market, how can they drive the copycat market?

So now we see that basically only Bitcoin is rising, plus the upstart SOL. If it weren't for the Trump incident that hyped up Doge, even the old currencies wouldn't have much market.

What will the cryptocurrency market look like in the future? It is likely to be a "big pie + a certain ecological sector" model, such as the current sector is Meme coin. This is the tone of the institutional market: there is no more low-hanging fruit, no general rise in the market. In the future, it will be the ability to choose coins.