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Regarding altcoins —

There still hasn't been a compelling reason to hold them

ALTs will only rally against BTC if BTC reaches new highs first

Instead of holding a basket of alts hoping for alt season, holding BTC is an option if the cycle top is believed to be not in. If BTC rallies to ATHs, a rotation into alts could then be evaluated

If the BTC cycle top is already in, that approach would avoid the pain of buying alts

BTC falling is unpleasant, but it would likely be among the first to recover to new highs in a future cycle, while many alts could continue declining

The base case for ALT/BTC pairs is a drop of about 30% over the coming weeks

If that occurs, a reassessment would follow