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The entire market is generally rising, and the altcoin season, if it ever happens, probably will never come.
There is a commonly used indicator in the crypto world called "Bitcoin Market Cap Share," which is the proportion of Bitcoin's market cap relative to the total crypto market cap. When altcoins explode in market share, Bitcoin's share naturally becomes relatively lower.
Let's review the altcoin seasons of the past few years:
The 2017 wave was the beginning of the altcoin dream, with altcoin share rising from 8% at the start of the year to 50% by the end of the year.
From late 2020 to mid-2021, altcoin share surged from 17% to 37%.
And now, with the explosion in the number of projects, institutions only holding BTC and ETH, and funds highly concentrated, we really can't wait anymore...