So I came across this old analysis from Crypto Feras back in 2023, and it's actually worth revisiting now that we're in May 2026. He was calling for an alt season to kick off somewhere between December 2023 and May 2024. Let me break down what he was seeing at the time.

Feras based his prediction on some pretty solid technical work - macro charts, cycle analysis, Fed policy, borrowing rates, and on-chain metrics. He wasn't just throwing darts at a board. The guy was looking at Bitcoin's weekly chart and noted that if BTC could reclaim $29,300, things could turn bullish. If not, he was eyeing $25,500 and below as a better entry point.

Here's where it got interesting though. Bitcoin had already ripped about 70% higher by mid-2023, but Feras was picking up some warning signals. The daily candle on the BTC chart closed below the 50-moving average for the second time since January, and a head and shoulders pattern was forming. Classic bearish setup.

The real red flag? Bitcoin balances on major exchanges had jumped by over 56,400 units in just 30 days. Historically, that kind of accumulation on exchange wallets signals people are preparing to sell. So while the uptrend could theoretically continue, Feras figured the 2023 rally had already captured most of its gains.

His call was for a correction or consolidation phase before the next alt season 2023 would really get going, specifically between December 2023 and May 2024. He factored in the Bitcoin halving scheduled for April 2024 as a key catalyst. Looking back now, that timing analysis around the halving and the alt season cycles was pretty thoughtful.

It's wild to see how these predictions from 2023 actually played out. The market dynamics have shifted significantly since then, but it's a good reminder of how on-chain data and macro cycles can inform these longer-term forecasts. Whether you're tracking the alt season narrative or just trying to understand Bitcoin's structural patterns, that kind of multi-indicator analysis is definitely worth studying.