Shocking stat of the day: The share of cryptocurrencies trading within 5% of their 252-day high is near 0%, according to Sentimentrader. This contrasts with Bitcoin, which currently trades near at a fresh all time high. By comparison, when Bitcoin previously set new records in February and November 2024, ~75% and ~40% of cryptocurrencies, respectively, were within 5% of their 252-day highs. Historically, when a large percentage of cryptocurrencies trade near record highs, Bitcoin has pulled back. The current divergence suggests Bitcoin may have more room to run. History suggests this rally is not done yet.