Caution on L1 altcoins; prioritize Bitcoin and Ethereum amid market uncertainty.

The post highlights significant underperformance of many Layer 1 (L1) altcoins (e.g., DOT, ALGO, ATOM) which are trading below their 2022 FTX flash crash prices. This contrasts with a perceived 'bull market' and suggests that the 'altseason' narrative may not apply broadly. While SOL, BNB, and XRP have seen gains, the overall sentiment for a wide array of altcoins is bearish. The underlying advice, echoed in comments, is to exercise caution with speculative altcoins and to focus on more established cryptocurrencies like Bitcoin and Ethereum, which are considered more resilient.