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Altcoin Sherpa
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$ETH short term tailwinds > $BTC
I am of the view BTC dom topped in late June for 2025
The opportunity for $ETH (+ v select alts) to outperform $BTC (over the next 2-3 months) is the best it has been for a v long time
> Many are underestimating the extent of the tokenisation / stablecoin / onchain wave that’s coming post Genius & other recent legislation that’s just passed in the US. Combined w a big recent push from the SEC to accommodate (Project Crypto implementation by ye etc)
> $ETH transactions now near all time high
> $ETH supply on exchanges at a 9 year low
> Market just had the most violent st correction on BTC dom in yrs (type of move you see at tops)
> Whilst we all have questions around the sustainability of this treasury vehicle bid on $ETH, it is not the only reason for why $ETH has been going up. ETF flows have also been v supportive. Both have each accumulated ~1.6% of $ETH supply since June
> ETF staking catalyst is clearly coming v soon, which will be an edge over the BTC ETF (least in the short term anyway)
TLDR: $ETH has stronger tailwinds short term over $BTC and still sits c25% off the last cycle high. My base case is $ETH puts a new ATH in over H2
If the USG signal any type of $BTC accumulation, the above is void.
End.
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