Next, let's talk about this round of alt season.

1. In this round, there was an alt season at the beginning of 2024 and from mid-November to mid-December 2025, and there will still be alt seasons of this level, but there won't be the typical alt seasons from the previous bull market. This means that the current alt season is a small-scale rebound of 2-3 times in a chicken rib market when BTC and ETH are stagnating at the new peaks after the altcoins have been washed to new lows. Moreover, it is limited to high-quality altcoins that either have certain consensus, have active application landing data, or involve governance and dividend factors. Especially high-quality altcoins may be stronger and could see 3-5 times or even 10 times, but it's very difficult for you to filter and hold them, and their high volatility is not conducive to defending against declines at the end of the bull market. ETH, the leader of the altcoins, has passed the ETF, and this round has ultimately come with a wave of market activity of 5-6K.
2. Previously, an altcoin prosperity index of 75 was the starting point of the alt season, but from this round onwards, perhaps 75 is the peak of the alt season, and when the index reaches 75, the alt season will tend to come to an end.
3. In the future, the crypto market will be no different from the US stock market, with 1% of projects accounting for 90% of the market value and growth. At the end of a bull market, there should be no grand visions; altcoins should not have grand visions either. In short, take profits when you can, even if there is some difference from your expectations, it's better to keep the profits you have. In the future, retail investors should not expect to make tens of times returns in the crypto market; a threefold increase per market wave would be good. A return of 5 to 10 times from the end of a bear market to the middle of a bull market in 2 years is the most stable, safe, and reliable. (