According to Miles Deutscher, recent heavy losses experienced by traders in February and March continue to weigh on altcoin market sentiment, with many investors remaining cautious and waiting for price relief to offload positions they failed to de-risk earlier (source: Miles Deutscher on Twitter, May 10, 2025). This lingering wariness suggests that any potential full-scale alt season will require sustained recovery and renewed confidence before new capital meaningfully enters the altcoin market. For crypto traders, this indicates possible prolonged consolidation and delayed breakouts in key altcoins as risk appetite slowly rebuilds.