ALTS MAY HAVE ALREADY BOTTOMED VS BITCOIN

After more than a year of downside and broken structure, the Others Dominance chart is starting to shift. It has already reclaimed the levels we saw before the October 10 crash, while Bitcoin is still roughly 40% below its highs from that same period. That divergence matters. If altcoins were still in heavy distribution, dominance would continue making new lows. Instead, it has risen sharply over the past two months, suggesting seller exhaustion rather than continued capitulation.

We saw a similar dynamic in 2019 to 2020. $BTC continued to correct for months, but Others Dominance bottomed early and never revisited those lows, even during the March 2020 crash. That marked the beginning of a multi-year alt expansion phase.

On top of that, RSI on Others Dominance has crossed above its moving average for the first time since mid-2023, historically a precursor to alt strength. Small caps are showing relative strength, ISM has moved back into expansion territory, inflation is cooling, and traditional safe havens like gold are losing momentum. That combination typically favors higher-beta assets.

None of this guarantees an immediate altseason. Election years often bring chop and delayed breakouts. But structurally, leverage has been flushed, sentiment is near cycle lows, and positioning is light -- and it’s the kind of reset that tends to precede rotation. 🔥