Almost no one is talking about altseason lately. And you know what? It could be the most bullish signal we have right now.

Santiment recorded an interesting data point: weekly mentions of altseason on social media have plummeted to the lowest levels in the past two years. When you see the term disappear from conversations, it historically means that major holders have started moving silently. Every spike in chatter about altseason in the last 24 months has coincided with a local high of DOGE. Every period of silence? Followed by a rally.

Sure, the decline has been brutal. DOGE is down about 75% from its peak at $0.73. Solana has lost over 60% compared to its $293 high. Cardano has dropped more than 70% from $3.09. There’s nothing to get excited about if you held these tokens during this period. The broader altcoin market has been losing ground to Bitcoin for months, with capital flowing into BTC and stablecoins.

But look at what on-chain indicators are saying: Bitcoin wallets with over 100 BTC reached nearly 20,000 units at the end of February. The big holders were accumulating during the dip. Meanwhile, the Crypto Fear and Greed Index fluctuated between fear and extreme fear throughout February and March. Google searches for bitcoin to zero hit record levels. Apathy is total.

And this is exactly the setup that precedes a rebound. The crypto community has completely abandoned altcoins. The sentiment for a true altseason isn’t there yet, but psychologically, the market is already ready. What’s missing is Bitcoin stabilization. With ongoing geopolitical pressure continuing to stress global markets, altcoins need to see BTC find balance before they can start shining again.

The numbers say no one is talking about altseason anymore. And historically, when the crowd stops talking, that’s when the real movement begins.