The upcoming altcoin season is anticipated to unfold as a slow bull market with a focus on differentiation. Investment is likely to favor DeFi blue chips with clear fundamentals and cash flow generation, as well as projects recognized by institutions. Meanwhile, some funds may flow into high-risk speculative assets like memecoins. Projects lacking a competitive edge may struggle to attract attention. Overall, the market is expected to mature and become more rational, with investment strategies shifting from total value locked (TVL) to cash flow and institutional demand.