I noticed an interesting thing — why hasn't the altseason started in this cycle, even though all signals seem to be in place? Let's figure it out.

Bitcoin grew from $15,400 to $126K — that's a huge increase. Gold added trillions to its market cap. U.S. stocks are at all-time highs. With this liquidity, all these assets are literally soaring. But Ethereum is still struggling with the $4,900 level, which was set back at the beginning of the cycle, and altcoins are hitting new lows every week. That's strange, isn't it?

The problem is that investors are currently focused only on safe assets — gold, bonds, top stocks. Liquidity is just stuck in low-risk instruments. When there was uncertainty about tariffs and trade wars, people were afraid to take risks. That’s why the altseason never really started.

But here’s the interesting part — if we look at 2017 and 2021, there’s always been a pattern. First, safe assets grow, traders gain confidence, then liquidity starts flowing into riskier assets. First into BTC, then into ETH, then into altcoins. From large-cap to micro-cap.

With three rate cuts in 2025 and easing monetary policy, the picture should change. Markets should see liquidity returning to risky assets. When that happens, BTC will go even higher, ETH will follow, and then, when Ethereum breaks above and holds over $5,000, the real altseason will begin.

It’s worth noting that some altcoins have already shown strength — ONDO, FET, and SUI reached new highs even earlier. SOL and BNB also confirmed their ATHs. But these were local movements. A full-fledged altseason is when the entire segment moves in sync.

So I’m waiting for this liquidity to finally flow from gold and stocks into crypto. It’s only a matter of time. The altseason will come, you just need to wait for the right moment.