$OTHERS = TOTAL3 - TOP10 so essentially a picture of the Alts market w/o big caps & main stablecoins

By now we've all seen that a lot of Alts barely outperform vs. #Bitcoin and even though you'll always been able to find some outsiders doing their own thing, keeping an eye on OTHERS/BTC is imho one of the best way to know how to navigate the market in terms of risk allocation & rotation

When we look at it we can see that since Jan22 top (start of the last bearmarket) the bottom wasn't hit in Jan23 but in June23 and (arguably) the downtrend was invalidated in Oct23

We've just retested the lows again, and I personally think it'll hold
Now a lot of people (peng included) think that Alts will offer diminishing return over time

I honestly have no idea if that's true although it looks like it's going in that direction as of now

What I know is that if OTHERS/BTC manage to break that range high around $5M area it open the gates to go back to the ATH zone

So TLDR: as long as the $3M support holds there's a very clean range to know how to skew your risk in terms of Alts vs. $BTC, if that breaks we're gonna get some fireworks

Either way, like GCR said, the future is bright, and I think the future is soon
#OTHERS #Bitcoin