Market maker Wintermute has released a report indicating that a significant altcoin rally is contingent upon Bitcoin and Ethereum leading the charge. The report, highlighted by BitcoinSistemi, notes that although market positioning has reset and sentiment has improved, altcoins continue to exhibit volatility and underperformance relative to other risk assets. During the past week, Bitcoin and Ethereum maintained stable trading ranges, while altcoins struggled to gain momentum. Wintermute also pointed out that upcoming U.S. regulatory and political developments could introduce additional volatility into the market.