we haven't had a proper alt season since 2021 so you could tell "altcoins are done".
Been "done" for almost 5 years at least.
Not sure if it will ever change at this point, but big narratives still shoot pretty nicely sometimes (Hyperliquid, Zcash, TON, certain memes etc).
It's a rough illiquid PvP market now but it's not impossible to make money in it.
I wouldn’t say altcoins are done, but the market has definitely changed. Capital is much more selective now, and most liquidity still gravitates toward Bitcoin first. The difference today is that narratives matter more than ever, projects with strong fundamentals, real adoption, or a compelling story can still outperform massively.
Bitcoin remains the anchor of the market, while sectors like BTCFi, AI, infrastructure, and a few standout ecosystems continue to attract attention. It’s a tougher environment than 2021, but opportunities are still there for those who can identify the right narratives early.
