Don't Buy Ethereum Until This Happens

Group 1 - Ethereum is currently down almost 60% from its all-time high six months ago, trading at $2,100, and is down 31% for the year [1] - The arrival of altcoin season is a significant event that could change the outlook for Ethereum, typically occurring once a year [2] - During altcoin season, altcoins like Ethereum tend to outperform Bitcoin, leading investors to allocate more of their portfolios to these riskier assets [3] Group 2 - The Altcoin Season Index indicates whether it is altcoin season by checking how many of the top 100 cryptocurrencies are outperforming Bitcoin over the past 90 days; currently, the index is at 34, meaning 34 cryptocurrencies are outperforming Bitcoin [4] - Ethereum has underperformed Bitcoin over the past 90 days, down 37% compared to Bitcoin's 23% decline, but overall investor risk preference is crucial for Ethereum's performance [5] - Investors may need to wait until the Federal Reserve cuts interest rates in 2026 for liquidity to return to the market, potentially triggering a surge in altcoin investments [6] - Recent geopolitical tensions and military conflicts have caused investors to recalibrate their risk assessments, impacting their willingness to invest in altcoins like Ethereum [7]