Although everyone feels differently, I still want to say a few words about this market cycle. Based on some indicators, we’re still in a very healthy bull market. Let’s hope we can all seize this opportunity. 1. From the Altcoin Season Index in Chart 1, you can see that after a full year, the index is finally approaching the blue zone around 75. However, I hope we enter this zone slowly because being in this range means the market is already very hot, and it might only last a few months before it ends. 2. From the funding rate heatmap in Chart 2, you can see that although many altcoins have rebounded from the bottom, with at least 2x gains or more, the market is not overheated yet (as shown by the lack of concentrated orange high-heat zones). I looked at some of the coins that have surged recently, and their funding rates are mostly in very normal ranges like 0.005% or 0.01%. This indicates that the price increases are driven by spot buying rather than excessive speculative leverage. So, this market cycle is indeed very healthy—something we haven’t seen in a long time. Let’s cherish it while it lasts! There’s still huge potential in altcoins!