There is a reason for this chart to look the way it does, multiple actually. Since I last charted this (I look at it daily), we were well below the trend-line. Make or break time for alts I think as a whole.
BTC is king, first mover, and a lead that refuses to let up. Outperformers seem to be a temporary thing. Corporate backing - inflows are primarily into BTC - you got your corporate adoption, but it is still heavily skewed towards BTC, with a few others benefiting, mainly ETH and to a lesser degree LTC. Regulation seems to be taking a swipe at various alts December it was XRP, now privacy coins XMR, ZZEC, DASH - what next?
I have a feeling that the last alt season we saw in September of 2020 will be the last for a long time, if we ever see one again. Also curious what the smashing of the alts will end up doing to ETH. Last bear market saw a lot of alts selling their ETH which drove ETH prices down during the bear market.
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