Has altcoin season really restarted? Let’s take a look at the characteristics of this round of altcoin rotation: Funds are extremely concentrated: It’s not a broad-based rally. Just a few projects like ORDI have absorbed nearly 70% of the trading volume. The market is still fearful: The Fear & Greed Index is as low as 22, and Bitcoin remains absolutely dominant (market share at 56.8%), lacking the foundation for a full-scale resonance. Whales are tightly controlling the market: For skyrocketing coins (like RAVE), over 90% of the tokens are controlled internally. Essentially, it’s a game of “short squeeze” and liquidity battles. ⚠️ Conclusion: With 47 million tokens severely diluting liquidity, the traditional “broad-based altcoin season” may already be over. Most altcoins are still stuck in a liquidity vacuum, so be cautious of whale manipulation and the intense volatility risks from profit-taking pressure!