Many people are asking now: Why has Bitcoin reached a new historical high, but alts are still not rising? Why haven't we seen the so-called "alt season" yet?

There are actually two main reasons behind this: one is the structural trend of Bitcoin in this round, and the other is the explosive growth in the number of altcoins.
Let's talk about the first one. In previous bull markets, BTC experienced violent rises and falls with intense volatility, making such trends most likely to stir emotions and attract attention. While everyone watches the prices skyrocket, they fear missing out and will chase various alts; as emotions spread, the alt season naturally arrives. This was the case in 2017 and 2021 — Bitcoin surged crazily, social media was buzzing, and the crypto space was extremely heated. However, this time it's completely different; Bitcoin is "rising for a while, consolidating for a few months, then rising again, and consolidating again." The rhythm is too steady, with no significant ups and downs, so it naturally fails to ignite that kind of nationwide frenzy. Without enough heat, there is no alt season.
The second reason is that there are too many altcoins. On average, nearly 50,000 tokens are now added every day, from 4 million coins in the market a year ago, to 22 million now. This amount directly dilutes all the funds and attention. In the past, there were few cottages, hot spots were concentrated, and the whole market could see that one had risen; Now there are too many coins, even if the total market value hits a new high, the money is spread too thin, and it can't get hot at all. Those "hundredfold coins" and "myths of getting rich" are becoming less and less.
So, this round of the market is not the type of "everyone takes off" alt season, but rather "structural opportunities" — certain sectors or individual coins experience a brief explosion, with the market ending in one or two weeks, at most one or two months. This also aligns with the current market reality: liquidity is limited, funds are smarter and more dispersed, and there will no longer be collective revelry like in the past.
The traditional alt season may really be over. The future alt seasons will no longer be collective surges lasting for months, but rather short, rapid, opportunistic explosions. The market is still changing, but opportunities will still exist; only their form has changed. #十月加密市场预测