❌ The Altcoin Season has not truly started yet
The chart comparing BTC, large-cap (top 20), and mid/small-cap shows that we are currently witnessing the weakest performance of altcoins in this cycle.
The strongest wave, resembling a "real" Altcoin Season, occurred in early 2024 when altcoins, especially mid/small-cap, outperformed BTC for a short period.
We also experienced a second phase of altcoin performance at the end of 2024 and the beginning of 2025, but this time BTC still maintained dominance in performance.
Therefore, this is the weakest reaction of altcoins that we have seen in this cycle, which may indicate that we are only in the early stages. Patience is still needed.
