Few logical reasons alts aren’t pumping AT ALL. - Last cycle none of us realized just how propped up the market was from Alameda/FTX, A16z +++. When most of them were caught in the contagion fallout of FTX, they were wiped out. IF they were able to get any funds this cycle, there’s a good chance they are practicing *some form* of risk management. - PumpFun ushering in the ability for anyone to create a token with the click of a button has diluted our space 1,000x more than 20/21’ - This is Bitcoins adoption cycle. It’s undeniable when taking a glance at BTC.D. Thesis: BTC has one final leg up to 145-150K, alts give an underwhelming performance once again. Four year cycle is broken. Big Alts like ETH LINK AVAX fully send in our next cycle as the tech actually becomes utilized by governments & institutions.