According to @cas_abbe on X on Nov 30, 2025, the current crypto cycle features no AltSeason for over three years, the worst Q4 since the 2018 bear market, altcoins peaking before BTC, and BTC rising while diverging from liquidity; based on these observations, he argues crypto is shifting to a macro-asset regime with 5–10 year uptrends and 1–2 year bear phases, implying traders should de-emphasize four-year halving playbooks and “sell in May” seasonality in favor of longer-duration trend structures per his view (source: X/@cas_abbe, Nov 30, 2025).