A Retrospective and Prospective Look at the Characteristics of the Past Altcoin Season

1. The Changing Relationship Between BTC and ETH

In the past altcoin season, when BTC rose, ETH often followed, bringing altcoins up along with it, with strong coins like ETH sometimes surging over 10 times. This relationship is no longer the case; when BTC rises, ETH often does not respond, creating a new dynamic.

2. Sector Rotation Trends

During the bull market of 2021, various sectors such as public chains, DAOs, and NFTs rose successively. In 2023, L2 and AI sectors also shone. Now, the sector effects have weakened, with only a few concept coins occasionally making waves, making it difficult to replicate the overall rotation of the past.

3. Patterns of Altcoin Rally

Old altcoins often exhibit three patterns in their rallies: small incremental rises, where followers fear a downturn after gains; sharp rises and falls, where rapid gains lead to steep losses, making high leverage risky; and zigzag patterns, where prices oscillate, testing the patience of holders.

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