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The best part is about to happen.
Just at the point where everyone thinks it goes to the worst part.
One of the biggest tells that this cycle isn't over, and has been different, is the behaviour of ETH/BTC.
The overall difference that everyone wants to reject is that this cycle is longer due to the business/liquidity cycle being in contraction for longer.
It becomes very clear when you look at it like this.
ETH/BTC is a proxy for how bullish the market is.
The final phase of the cycle that is supported by an expanding PMI, low interest rates and positive liquidity, is marked by ETH/BTC sending higher as money rotates into higher risk assets and they outperform Bitcoin.
This process already started last April when ETH/BTC reversed off the bottom.
And as you can see, in each previous cycle, 2017 and 2021, it took about one year from that bottom to then start is next, and true phase higher.
It is very clear that this cycle is not over, and we are yet to have the period in which the top(red dot) is marked.
ETH/BTC bottomed 320 days ago
PMI is now in expansion
Lower rates are coming
The best part of the cycle is about to happen, as BTC confirms this expanded flat pattern and heads to new highs.
It is going to happen soon...
And in hindsight, it will be obvious.