Technically, we are in an alt season and have been for some time.

This of course depends on your definition. But if we define it by alts outperforming BTC over a period of 3+ months? Then yes.

With $BTC pretty much flat in the past few months and $ETH up nearly 2x that's not so hard to believe.

78% of alts in the top 50 has outperformed BTC in the past 3 months. That's quite substantial.

But most of this outperformance has remained within this group of majors & leaders and has not trickled down to the mid & small caps.

If these rallies go on for long enough, I do believe we will eventually see that, but not to the degree like we saw in 2017 & 2021.

Picking the outperformers will still matter. Not every sector and every coin will go up. Go where the flows are in your favor. Even larger coins can still pull 3-5xes in the matter of weeks. We've seen plenty of examples from that. No need to go too far down the risk curve if the performance doesn't match the additional risk you are taking.

$BAKE
{spot}(BAKEUSDT)
$MYX
{future}(MYXUSDT)
$SUI
{spot}(SUIUSDT)