$ZEC $ETH $DOGE $SEI

Is anyone still calling for the altcoin season? The altcoin index has already fallen to a new low of 17 points, with popular coins dropping over 60% in the past 90 days. This correction has been quite severe.

Looking back, the wave of the altcoin season back then was huge. As a result, the Fed's policy shift to align with tariff trade negotiations directly triggered a wave of liquidations. The pressure from token unlocks followed closely, and funds simply couldn't withstand such a double blow. Now, those discussing altcoins have long lost their voice.

What's even more heartbreaking is that BTC's market share remains stable at 52%, indicating that all market funds are flowing into safe assets. After the rise of RWA tokenization, everyone's attention has shifted there. Who would dare to chase altcoins at this point?

Coins like SEI and DOGE, once hot favorites, have already suffered devastating declines. Whales are accumulating at the bottom, while retail investors are selling at high levels—this is the current state of the bulls and bears battling. If there's a chance, we need to first see whether this correction is a bottoming out or a continuation; caution is never wrong.