Regarding the question of whether the alt season will come, there are a few points to note:

1. Although the expectation of interest rate cuts has not yet arrived, it is on the way, which is equivalent to external water release. Coupled with the US election, everyone wants to get a piece of the crypto market pie.

2. There will be a alt bull market in this round, but due to the large size, the increase will be relatively small, the sectors are relatively scattered, each sector is attractive, and the degree of dispersion of funds will be far greater than before, so most of the alts are unlikely to have a trend like meme.

3. Ethereum ETF is very critical to the launch of this round of alt bull market. You can look at the market's expectations for the pie when the ETF was passed before, which can also drive the rise of alts. Ethereum is equivalent to the leader of the alt, which will bring buying sentiment to all coins.

4. Today, the total market value of alts is close to that of the bull market, but there are still many coins that have not outperformed the market, which shows that the market has entered a new normal. It will not be like the last round of bull market where all sectors and projects work together to continuously create historical highs. This round will test the ability to select coins more.