Crypto is pumping.

But I'm still not calling it altseason.

$BTC just pushed back above $70K and $ETH is having a strong move, while the broader market is catching a serious relief rally.

But here's the part I'm watching:

CMC's Altcoin Season Index is still sitting around 36/100.

That's firmly in Bitcoin Season territory.

And I think that's important.

A lot of traders see BTC pumping, ETH following and a few altcoins doing 10%+ and immediately start calling for the next altseason.

That's usually when people start chasing.

For me, the confirmation needs to come from somewhere else:

→ More altcoins consistently outperforming BTC

→ Rising altcoin trading volume

→ Capital rotating beyond the biggest assets

→ Stronger breadth across the market

→ And most importantly, the move lasting longer than a few days

One strong green day doesn't change the market structure.

It can simply be a short squeeze or a liquidity-driven rally.

So I'm bullish on the recovery, but I'm not going to confuse “crypto is going up” with “altseason has arrived.”

Those are two very different things.

Let the market prove the rotation before we chase it.