Altseason still hasn't started.

As per CMC Altcoin Season Index, only 17 coins out of the top 100 have outperformed BTC over 90 days.

Large-caps like $ETH, $SOL, $BNB, $XRP etc. have all underperformed BTC.

Is this a good or bad thing?

For now, it's not a good sign as our bags are underperforming.

But, it also shows that you have time to accumulate before alts start to rally.

In December 2024, Altseason Index peaked at 87 before starting the downtrend.

I think something similar could happen in Q3 2025.