Obviously was very wrong on the timing of this as the breakout came much sooner than expected.
Altcoins are tough to map at the moment. ETH is seeing real inflows (not just cash/carry moves like before), and some other majors are likely being bid in anticipation of ETFs, treasury allocations, etc.
Non-major altcoins (outside of top 10 by mc) are struggling to catch the same bid as majors, as shown by OTHERS weakness vs TOTAL2 & TOTAL3. This tells me that this move is less crypto-native driven than previous moves
Sentiment has shifted towards an expectation of a substantial run from ALTS, however, a trend shift hasn't yet materialized from small cap ALTS. If you place bets that a shift is coming, you will print hard, but its a big risk considering the amount of OI that has recently added
Overall, not really sure what happens next. This could be the start of a trend shift or it could easily be a major top. I would give each of those scenarios a 50/50 chance of happening
This is like one of five moments in crypto where I have absolutely no idea what will come next
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