Crypto analyst Benjamin Cowen argues that we are currently witnessing an ‘Ethereum season,’ not an ‘altseason.’ His chart shows a significant downtrend in altcoins against Ethereum since April, dropping around 50%. This illustrates the dominant performance of Ethereum compared to other cryptocurrencies. Cowen suggests that while some individual altcoins may be performing well, they have all underperformed against Ethereum. He notes that as long as ETH/BTC continues to rise, altcoins measured against BTC will likely see a positive trend too. However, Cowen emphasizes that altcoins will continue to bleed against ETH for the next week or two before experiencing meaningful relief bounces. ]