Speculation about an altcoin season is increasing as Bitcoin remains stable near $87,000. Ethereum's market dominance has risen from 7.3% to 12%, sparking interest in altcoins potentially following historical cycles from 2017 and 2020. The Altcoin Season Index indicates some altcoins are outperforming Bitcoin during its consolidation phase. Market analysts note that liquidity returning after a period of quantitative tightening could support an altcoin rally. The market sentiment remains neutral, with attention on the Federal Reserve's potential end to quantitative tightening. Macro investor Raoul Pal advises holding 5%–10% in riskier altcoins during such market conditions.