Report on the situation of alts.

The altcoin market capitalization and exchange rate have pulled back for several weeks in a row, and are now approaching previous lows again. Whether the correction will continue this week, I think it will take a month or so to observe.
From the perspective of liquidity:
The delay in the arrival of the altcoin season was largely due to the on-chain market siphoning off too much speculative liquidity, for example, when Pumpfun issued coins, it was very popular and attracted a lot of attention and funds. Now the on-chain activity is not as vibrant, and even Pumpfun's coin issuance is beginning to encounter resistance.
If the altcoin season doesn't come in this case, then it really can't be justified.
More importantly, since the beginning of the year, the total amount of stablecoins has been steadily increasing. Even if these funds are relatively dispersed, it should lead to some of them flowing into the market, which would drive the market accordingly.
Next, without too much expectation, I just hope that Bitcoin can stabilize and fluctuate in the next 1-2 months, then break out into a new high trend, giving alts three weeks to absorb some blood, have a mini altcoin season, and then end this round of the bull market.