Will this market signal a new season for all the other cryptocurrencies, as the entire market looks bullish at this point?
In some cases, I agree with that. Take a look at the price reactions of Ethereum 2.0 as the August hard fork was followed by a massive rally in altcoins like Sol, Avax, ADA, BNB…etc and some predictions that altcoin season has begun. . But in some other cases it doesn't map that dependency at all.
Looking at the current market I will say the altcoin bull season has faced some resistance and not only altcoin is facing this resistance even Bitcoin and other stocks in the market are witnessing the same level of resistance, ADA was performing well in the market in the early last week but it market crash some moments later only Hex coin at the moment still holding it price despite a red chart moment.