Whether there will be an altcoin season depends on how ETH performs. If BTC breaks its previous high and reaches over $100,000, while ETH cannot break its previous high, then an altcoin season is reasonable.

The altcoin market still looks at how the BTC and ETH exchange rates move. If BTC continues to rise and ETH can outperform BTC, then altcoins may experience a broad rally. However, I remain skeptical about the current liquidity;

If ETH remains weak, there certainly won't be an altcoin season, and it will just be a few strong coins performing occasionally;

If BTC stays stagnant, expecting liquidity to flow out of BTC into altcoins is wishful thinking.

Don't be like seeking a sword in a boat!

The policy environment, fundamentals, and liquidity are completely different. Institutions only buy BTC, and compared to that, ETH's ETF is just pocket money. Valuable coins (VC) are increasing, with very large market caps, and there are large amounts being unlocked. The limited liquidity is insufficient to drive altcoins up.

In my personal opinion, since I am in cash, my position determines my thinking.