Recently, I've been pondering a question: Will there be a rebound in altcoins next spring? Here's my take.

The logic isn't complicated. The Federal Reserve's money printing, interest rate cuts, and balance sheet expansion all take time for the money to flow from the printed dollars into the crypto market. Altcoins have been in a bear market for over two years, with deep declines and a long duration. From both technical and capital perspectives, the basic conditions are roughly in place.

The key question is: Why does a large capital inflow into the market necessarily push up altcoins? Frankly, this is the least costly way to harvest retail investors and simultaneously attract continuous new funds. The general process goes like this: First, pump Bitcoin to boost enthusiasm, making retail investors believe the bull market has truly arrived, causing a rush of buying. Then, Bitcoin begins to consolidate sideways, and funds will use Bitcoin to exchange for altcoins—after all, altcoins have smaller market caps, making it easier to pump them up, and their gains can be much more exaggerated. Next, different sectors rotate—metaverse, AI, blockchain games, and other concept stocks take turns skyrocketing, creating a "overnight wealth" sensation that pulls in all the still-watching investors. When everyone is crazy, it's time to sell.

Ultimately, only when Bitcoin rises can retail investors make big money; otherwise, it’s impossible to ignite madness, and capital won't have the chance to harvest. Altcoin seasons are a necessary part of storytelling and harvesting profits.

Based on this logic, I personally think two sectors might perform well in the first wave—of course, this is just my personal judgment and not investment advice:

**CHZ** currently looks quite average, but that's typical in a bear market. The key point is that next year there will be the World Cup, and it will be held in the US. The US has a relatively open attitude towards crypto, and with top-tier global sporting events combined with crypto-friendly countries, new tricks might emerge. As the leader in sports fan tokens, CHZ has a strong narrative.

**UNI** is a leading DeFi token and the foundation of on-chain trading. Once the market truly kicks off, trading volume will explode, and core infrastructure tokens like UNI with high liquidity will definitely benefit. Although its market cap isn't tiny, its position is solid, and during sector rotations, it’s hard to bypass it.

In summary: The market is currently so cold that when it heats up later, it could become extremely crazy. Bitcoin leads the charge, with altcoins taking the main role—this script is old but effective. Spring is worth watching, but remember, volatility will be especially intense, so you need to bear the risks yourself.