If it weren’t a bull market right now, I really can’t imagine what it would be like to get trapped by all these low-quality altcoins. The ones that are up the most are newly issued coins that haven’t been tested through a full cycle, while the altcoin season index is still far from 75. BTC’s market share is still above 58%, so there’s basically no large-scale capital outflow.

As for this rebound, it’s probably a combination of short liquidations and tentative, selective rotation—not a broad-based bull market. Previously, the pattern was that BTC would rise, and altcoins would then fill in—this time, that clearly doesn’t hold. With ample supply, constant unlocks, and relatively fewer retail investors, once you get trapped, getting out can literally wear you to death.

So don’t mistake the rebound for a bull market. Before chasing these new coins, think it through: are you betting on a cycle turning bullish, or are you grabbing the last baton?