It might be. I didn't want to believe but that's how the market works — whether we want to believe it or not.

Some of those Bitcoin gains are already flowing into alts and ETH has been one of the biggest beneficiaries because of the ETF and the treasury companies being created to accumulate ETH and we know that if ETH goes up, it invariably means that altcoins will go up as well.

But since we have over 15 million tokens right now, I imagine that we won't have full blown alt season but  a different one where some selected alts do much better than others. For instance, tokens like Filecoin (FIL) and Sonic(S) —formerly Fantom, have seen very little to no gains.