Retail investors, degens, gamblers are still here in this market and there are new participants in this market cycle as basically a new cycle attracts many new participants.

Difference between this cycle and past ones is in this cycle, there are overwhelming altcoins so people don't have enough capital to boost all altcoins. In other words, there is lack of enough new capital in the market for an altcoin season, and it is very big difference than past cycles.

In this cycle, there have been many calls on altcoin season that has never existed and there were only mini altcoin seasons that disappeared very quickly. Consequently altcoin enthusiasts mostly lost money in this market cycle and if they are not careful and determinant enough to exit the market, bear market will damage their capital a lot in coming months, perhaps most severely in 2026 and 2027 years.