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THIS CHART BLOWS MY MIND.
Altcoin dominance has been moving almost exactly with the PMI (Purchasing Managers Index).
We haven’t seen a true 🇺🇸 US business cycle during this Bitcoin run, which is why altcoins have massively underperformed.
BTC.D + ETH.D + USDT.D + USDC.D (inverted) vs PMI highlights this perfectly.
Once the inverted chart starts moving back up, altcoin dominance begins rising again.
Keep your eyes on this.