SCBTC not bottomed yet; proxy for alts broadly

Many on crypto twitter seem under the impression that altcoins broadly are about to enter a bull market in the immediate future, however I'm not terribly confident in this for a few reasons;

- many coins are still far above their previous accumulation ranges
- BTC being heavily bearish would imo make big players wary of accumulating large bags and holding them for a protracted period, both of which would be necessary to see a dramatic turnaround

Comment:

Wew lol. Didn't realise the lower chart would be included. Unrelated to idea just some short term trading I was doing :^)