Altcoin season has not yet arrived in the current market cycle, as explosive moves similar to previous bull markets have not occurred.
Most major altcoins have underperformed Bitcoin, indicating that the altcoin season is still dormant.
Several factors contribute to the muted altcoin performance, including macroeconomic headwinds, institutional Bitcoin demand, Ethereum's lagging performance against BTC, and retail disengagement.
Deutscher's insights suggest that the broader altcoin market is waiting for key structural signals to flip before a full-scale rally can emerge.