Bull market doubts and the disappearing altcoin season: is this a failure of the pattern or the calm before the storm?

Looking at Dogecoin in the account, the last bull market peaked at 0.7 yuan, but this time it stalled at 0.4 yuan. The sense of disappointment is truly hard to put into words. What’s more confusing is that old familiar topic: will the altcoin season come back or not?
If this bull market ends so abruptly and directly shifts into a bear market, it would completely overturn the cycle rules of the past ten years. Looking back at history, at the end of each cycle, it’s the craziest moment for retail investors, with altcoins running wild and hundredfold coins everywhere. However, in the past two years, apart from Bitcoin’s relentless rise and Ethereum’s repeated struggles below 5000 points, nine out of ten altcoins haven’t even touched their previous highs. This “index bull, individual stock bear” phenomenon indeed makes people question life.
But does this really conform to the logic of bull and bear transitions? I don’t think so.
First, bull markets usually don’t die in silence but end amidst celebration. Currently, in the market, we not only don’t see the madness of altcoins, but instead, it’s filled with despair and panic selling. Historically, the madness at the end of a bull run is precisely when the main players need to offload their holdings. If they don’t push altcoins out to realize profits, who will take over? Now everyone is losing money, how can the main players sell off?
Second, the rhythm of this cycle has been clearly slowed down by ETFs and macro factors. Bitcoin’s continuous rise looks more like a game of stockpile betting. But I tend to believe that the altcoin season hasn’t disappeared, it’s just delayed. If this big cycle doesn’t have an altcoin season, then we won’t need to consider altcoin seasons in the future. $BTC ‌$ETH ‌