No, looks more like an altcoin rally when Bitcoin isn't doing anything. After that, we might see bitcoin move up or down. Either way, alts will be slayed and after Bitcoin rallies, we will get altcoins rallying as well.
Altcoin is really making some good gains lately as most of the coins are increasing and it even reduces bitcoin dominance although it is still as high as 60%. And for several weeks now, bitcoin's price is somewhat around $9K-$9200 levels. So there is no rally at all at the same time the price is very stable. Others say this is the calm before the storm, but it is going to be a waiting game as to when this storm are going to come.