The Past and Present of Altcoin Season: From Cyclical Carnival to Structural Reshaping
I believe that every new crop of retail investors in each cycle will definitely hear the old investors describe the former glory of altcoin seasons. What kind of golden dog randomly appears Buy today, tomorrow 1000 times One day in the crypto world equals ten years in the human world The result is that I actually downloaded the app but found Why do the coins I bought keep declining infinitely? Randomly pin the contract So today's article mainly discusses why altcoin seasons occur and where the future opportunities lie.
Previous lives: The cyclical logic of two classic altcoin seasons (2017 & 2021) The ICO frenzy of 2017: Capital overflow and retail FOMO The altcoin season of 2017 was a product of the Bitcoin halving cycle (July 2016) combined with the ICO financing model. Typical characteristics are as follows:
On February 1, 2026 (which is today), Bitcoin's price fell to $78,359, with a daily decline of about 5.5%, and the fear and greed index dropped to the extreme fear range of 14 to 15.
Indeed, looking back at CZ's mention of the 'supercycle' a few weeks ago at this point feels quite jarring.
Moreover, because of this, on Twitter, in addition to criticism of his previous coin listing incident, many have also begun to specifically attack this matter.
The dissatisfaction in the market is not difficult to understand.
Price drops, sentiment cools, yet some talk about a supercycle, which sounds like speaking against the wind.
Market Observation | Not Just Watching the Show: From the Trading Heat of ASTER, Looking at the 'Buyback and Destruction' Economics of DEX Platform Tokens
The script wouldn't dare to write this! Yesterday's ASTER contract competition became the focal point of the entire internet. The well-known trader 'Liangxi' showcased incredible explosive power during the competition, turning a capital of 10,000 U into 100,000 U at one point. This 'rollercoaster' storyline is not just a personal trading show but a hardcore 'stress test' of the liquidity and mechanisms of the ASTER platform. Everyone has seen the latest battle situation: the account experienced drastic fluctuations from heaven to hell. However, as a rational market observer, we should not just stay at the level of 'watching the show.' Through this incident, I saw three deeper value logics behind ASTER:
Come support you, General Tang, and by the way, let's follow each other here.
唐华斑竹
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Bearish
This world is just so funny. I once thought that Bitcoin at 85,000 was the bottom, but now 80,000 has become an unattainable height. The only thing I feel fortunate about is that at least I am still alive, while a certain whale's long position in Bitcoin was completely liquidated after holding for 112 days, resulting in a loss of 6.84 million dollars. Their overall position loss will reach 7.6 million dollars. Looking at the whale's miserable situation makes me feel much better and I can reluctantly forgive myself. $BTC {future}(BTCUSDT)
"When I use a word," Humpty Dumpty said in a rather disdainful tone, "it means just what I choose it to mean—neither more nor less." "The question is," Alice said, "can you make words mean so many different things?" "The question is," Humpty said, "who is to be master—that's the question." —Lewis Carroll (Alice's Adventures in Wonderland) January 3, 2026, early morning. The night sky of Caracas was torn apart by the sound of U.S. military transport engines, and a few hours later, Nicolás Maduro was taken aboard a special flight to New York.