Dominance

Crypto breadth is improving, so much so that there are few downtrends left. Uptrends (blue) are on the rise, and you never know, but this could be the one. Halving is just six months away, and the Fed will have to start printing money again soon.

Crypto Breadth is Strong

Contrast that with the stockmarket, and the divergence is striking. Both fell in 2022, but crypto had it worse. Furthermore, all things crypto fell last year while parts of the stockmarket were barely scathed, notably big tech.

While Equities are Weak

What mainstream investors don't seem to understand is that Bitcoin is the new big tech trade. When the penny drops, we suspect great things will happen. Many in crypto don’t seem to understand this either, as the rally has been so Bitcoin-centric, with Bitcoin dominance an impressive 52.9%. That means most coins have been underperforming Bitcoin, which makes it difficult to outperform by holding many altcoins. As a result, we have no shame in holding an 80% position. That will change, and it will be exciting when it does, just not yet.

Bitcoin Dominates

It is remarkable looking at the top 20 projects to see all of them have zero stars when priced in BTC.