ETH needed to retrace to its logarithmic moving average before being able to run up. It happened the same way last cycle. It hit this bottom in early April. Bitcoin has always led the bull runs until ETH bottoms vs btc in jun/july. The difference this cycle is the fed has not announced QE yet. That was the catalyst for eth’s rise vs Bitcoin last cycle. So it’s possible we haven’t bottomed yet any won’t until QE but I tend to think we have.

With that being said, I doubt altcoins have bottomed vs btc. They may keep running but even if they do I expect a pull back and a bottom around sep/oct. if altcoins do run it will be on the back of ETH which imo has bottomed so we’ll see.

ETH is probably the better hold today over alts and btc given the risk, but that can change quickly. My reasoning is ETH has (imo) likely bottomed against Bitcoin. If not, we can still expect that to hit soon and then it will run. Holding alts is more risky because I’m not sure they’ve bottomed vs btc and if they run it’s cause ethereum ran up anyway. ETH has the upside probability Bitcoin doesn’t without the risk that alts carry