Not Altcoin Season, We Are in Ethereum Season: Here Is Why

Analyst Benjamin Cowen has clearly stated in his latest post: what the market is witnessing is not an "Altseason", but a true "Ethereum Season". According to Cowen's chart, since April, altcoins ( excluding Bitcoin and Ethereum) have decreased by an average of about 50% compared to ETH. This is a severe decline, indicating that although some individual alts are still performing well, the majority of alts are "bleeding" when compared to Ethereum. ETH/BTC Soars – Altcoin is Just a Supporting Actor Cowen emphasized: as ETH/BTC continues to rise, altcoins measured in BTC may still be in the green. However, in the ALT/ETH pairs, the downtrend will likely continue for at least another 1-2 weeks before any significant bounce. 💥 Ethereum Approaches Historical Peak Today's price movement further reinforces that argument. ETH increased nearly 9% in just 24 hours, approaching the $4,700 level – only about 4% away from the historical peak of ~$4,900. Momentum is currently leaning heavily towards ETH, and if it breaks the psychological level of $5,000, the market could quickly shift into a "full risk-on" state – meaning an extremely high risk acceptance mentality, with capital flowing strongly into risk assets. ⏳ When Will Altcoins Be "Released"? History shows: In breakout cycles, altcoins often rise slower than ETH. Only when ETH reaches a short-term peak and enters the accumulation phase does new capital flow into smaller altcoins, creating explosive gains in mid-cap and low-cap. If ETH breaks its peak and enters the price discovery zone, this could be the signal to kick off the next wave of altseason. 🎯 Investment Strategy If you buy ETH from the area below $3,000, the current increase is a reasonable time to take some profits. The market is extremely excited, but even in a bull run, strong corrections still occur and are often unexpected. Don't let FOMO cause you to overlook risk management – especially when ETH is very close to a major psychological level. In summary: This is still the season of Ethereum. Altcoins will have their moment to shine, but for now, all eyes are still on ETH and the $5,000 mark. When the "king of DeFi" breaks the record, the entire market may enter the next explosive phase.