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Glassnode Altcoin Season Indicator signals, but the current cause is completely different from history: it's not a surge in altcoins, but a signal passively triggered by $BTC 's pullback and weakening.
All on-chain indicators and historical candlestick charts have limitations of their era; when the situation changes, the same signals have entirely different significance.
Never rely solely on indicators; they must be combined with the current cycle and the real funding environment for comprehensive analysis.