Is the alt season coming? The market is severely polarized, with a significant wealth gap in cryptocurrency trading; the alt seasons of certain coins are arriving, while the vast majority of coins are merely following the rise. USDT is stable around 7.12 with no premium, indicating that the incoming funds are not that obvious. Do you remember how much premium was made in previous years? The sustained rise in BTC prices is due to institutional large buyers entering the market, while alts are being played by the old suckers and small retail investors in the crypto world. The amount of funds is completely on a different level compared to institutions, which is also why Bitcoin can repeatedly hit new highs but USDT has no premium, and alts are not particularly crazy for major reasons. There are just too many alts; the same code with a different name becomes another coin, constantly launching projects and diluting the remaining market funds, yet unable to attract more funds into the alts, making it difficult for the alt season to arrive. Compared to four years ago, the number of coins has increased by thousands, multiplying by hundreds, but the number of people trading cryptocurrencies has not multiplied by hundreds. Alts are the altcoins of certain coins that have attracted institutional attention, have hype, have high turnover of bottom chips, and have very good patterns, which may still see a decent alt season, but it is hard to see a tenfold or hundredfold alt season again. This is a personal opinion, for reference only #山寨季来了？ .