PANews reported on August 28th that, according to BeInCrypto, despite positive macroeconomic signals from China's economic stimulus policies and the Federal Reserve's potential September rate cut, an altcoin season has yet to arrive. Deribit Chief Commercial Officer Jean-David Péquignot stated that accommodative central bank policies could indeed increase market liquidity and drive speculative inflows into risky assets. However, the market currently lacks sufficient trading volume and broad-based growth momentum. Ethereum's recent price increase relative to Bitcoin is seen as a potential signal of a market shift, but it is not yet sufficient to trigger a full-blown altcoin season.

In addition, according to CoinMarketCap Altcoin Season Index monitoring, the indicator is currently 44, far below the key level of 75. Bitcoin's market dominance remains at 58%, continuing to occupy a core position in the crypto market.