Here's your reminder that capturing beta isn't linear through time.
Every time ETH or BTC are doing well while alts seem to exist in a vaccuum, everyone loses their minds, forgetting that it's a waiting game.
Yes, the number of alts that will perform well in this manner has decreased, but this is still roughly how the market works.
Yes, the underlying bid on majors is institutional / not onchain, but prices going up still leads to credit expansion onchain, and a lot of alts are paired with ETH -> they catch momentumn.
For decent alts, I think the worst case scenario is performing within +/- 10% of ETH. A much higher probability is outperformance.
The next plateau after ETH ath break is going to be interesting
AavPendlEthenFx
