ALTCOINS Might Outperform Bitcoin Sooner Than You Think. I was digging into the OTHERS/BTC chart and didn't expect to see what I found. Small caps vs Bitcoin are sitting in a spot that looks very similar to mid-2019...right after QT ended, while PMI was still contracting. Back then, PMI kept getting worse for months…but altcoins quietly stopped falling against Bitcoin anyway. This is what really surprised me. Not saying it has to repeat. Short term can still be messy, as PMI just printed lower, and is still ugly. And wait until you see what PMI respondents said for December. But it's interesting how often the relative turn happens before the macro data feels better. This video is me walking through that relationship...business cycles, liquidity, BTC dominance, and why this area matters. Intro 00:00 PMI print was not good, but… 2:00 Liquidity vs. business cycle 7:20 Surprising altcoin chart 8:40(Dan Gambardello)