Stop fooling yourself. The current altcoin market? It’s not even a “graveyard”—it’s more like an abandoned morgue that nobody cares about.

The data is right there: Altcoin total market cap (excluding stablecoins) has plunged 45% from its peak. What’s even crazier? Prices keep hitting new lows, but every day in the community someone is shouting “alt season is coming!”—it’s like throwing a concert in a funeral home and complaining the vibe isn’t lively enough.

📉 How harsh is the reality?

The technical charts tell the story: “lower highs, lower lows.” Each rebound is weaker than the last; every downturn hits harder than before. This isn’t “building up strength”—it’s slow, chronic bloodletting. What does a 45% drop mean? It means most altcoins have given back all their gains since the bull market began. The past year’s efforts have all been wiped out.

And the most ironic part: When the words “alt season” become a contrarian indicator, it means only the “faithful bagholders” are left, comforting themselves.

🎭 Why does shouting get louder as the crash gets worse?

**First, liquidity has been sucked dry by Bitcoin.** Institutional buying, ETF hype, dominant narratives—every dollar and all attention are flooding into Bitcoin. Altcoins aren’t being abandoned; they’re being completely ignored.

**Second, the only ones left are veterans trading against each other.** There’s no fresh blood—just old players gaming one another. You guess my next move, I guess when you’ll bail out. Every little bounce is just a more graceful way to dump. Without new money coming in, who’s left to buy the bags?

**Finally, the narrative has broken down.** Last cycle’s DeFi and NFT stories are played out, and this cycle’s AI+DePIN or RWA concepts haven’t gained traction yet. Without a new story, there’s no new money.

💀 So, is there still hope for alt season?

Yes. But only if—

Bitcoin first completes its “historic mission”: surging high enough (say, breaking $100,000) so that early winners feel “this profit is fat enough.” Only then will they willingly swap their Bitcoin for those “yet-to-pump” altcoins in hopes of the next 10x or 100x legend.

Until then? Any altcoin bounce is just a breather in a continued downtrend.

So stop asking “when is alt season coming.” When nobody in the forums even mentions those words anymore, when the discussion boards are dead silent, when every altcoin group becomes a “dead chat”—that’s when it might actually be on its way.