The much-anticipated altcoin season in the current cycle has failed to materialize despite initial signs. Recent data indicates a shift that could dampen expectations. The approval of spot Ethereum ETFs was a key factor for the altcoin season, but even after its approval, altcoins have remained stagnant. The Altcoin Season Index briefly showed an uptrend before dropping to 18, far below the required 75 for a full-fledged season. This decline may be attributed to waning investor interest in altcoins, leading to sideways or downward price movements. Despite this, some market participants, like Ty Blackard, believe the season will arrive once ETH surpasses its all-time high. However, a closer look at market caps suggests that altcoin season could occur regardless of Ethereum's performance. The influx of capital from BTC into the sector could potentially boost altcoin prices and revive the season in this cycle. Read more AI-generated news on: https://app.chaingpt.org/news

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