Next spring is expected to usher in an active period for altcoins. Let's break down the underlying market logic.

The core idea isn't that complicated. The Federal Reserve's easing policies, interest rate cuts, and balance sheet expansion—all these liquidity releases take time to permeate into the crypto market. After more than two years of deep correction, altcoins are approaching the release phase from both temporal and spatial dimensions.

So why does the influx of new funds necessarily lead to an altcoin season? Essentially, this is the most efficient path for capital to complete its harvest—and it also attracts more incremental funds into the crypto space. The entire process roughly unfolds as follows:

**Stage One**: Bitcoin leads the rally, boosting market sentiment with its popularity. Retail investors see Bitcoin rising and assume a bull market has begun, jumping in to follow the trend.

**Stage Two**: Bitcoin enters consolidation, and incremental funds start swapping into altcoins. An interesting dynamic here—Bitcoin's large market cap makes it difficult to rise rapidly, whereas altcoins, with smaller market caps, can achieve larger percentage gains with the same amount of capital, making them naturally more attractive.

**Stage Three**: Sector rotation effects become apparent. Metaverse concept coins, AI track tokens, blockchain game tokens, and others surge one after another, creating waves of "wealth mythologies." This demonstration effect stimulates FOMO among outside observers, ultimately leading to a nationwide rush—just the perfect window for selling off holdings.

The key to the logic is: simply pushing Bitcoin alone makes it hard for retail investors to achieve crazy profits, so a frenzy of speculation won't form. Altcoin seasons are a necessary stage for creating wealth illusions and completing capital cycles.

The current market may be dull, but future hype could become even more outrageous. This is an old routine—Bitcoin takes the main stage, while altcoins perform the supporting act. Keep an eye on the trends this spring, but be aware: volatility will be high, and risks are on your own.