According to Cas Abbé, the Federal Reserve's quantitative tightening (QT) program remains in effect and there will be no interest rate cut in May 2025, as cited directly from his Twitter post on May 3, 2025. This ongoing monetary policy limits liquidity and risk appetite in the crypto market, indicating that key conditions required for an Altseason—such as increased capital inflow and risk-on sentiment—are not yet present. Traders should monitor FED policy announcements closely, as any shift towards easing could quickly alter market dynamics for altcoins (Source: @cas_abbe, Twitter, May 3, 2025).