Before buying any altcoins, you can first open the chart paired with $ETH, and you will find that most altcoins are underperforming compared to $ETH.
The reason is simple: the funds are not coming from the crypto world, but from the traditional financial world. The reason for past altcoin seasons was due to capital overflow; when we make enough profit from $BTC, we want to invest in coins with smaller market caps and greater upside potential, starting with ETH, then altcoins.
However, this bull market is clearly driven by TradFi. Will Michael Saylor sell his $BTC to move to other altcoins? Will Tom Lee sell $ETH to move to other altcoins? The answer is obviously no, and this will help you understand why the long-awaited altcoin season has not yet arrived.
In 2024, one of the most profitable strategies for quantitative funds will be Long BTC, Short Alts.
In the second half of 2025, it will shift to Long ETH, Short Alts.
Of course, not all Alts can be shorted; strong altcoins like $Pendle, $ENA, and $AAVE should not be shorted casually.
If you are looking for opportunities, focus on those public chains that no one is using but still have VC-backed tokens with ongoing emissions; I won't elaborate further on this.
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