Retail has NO INTEREST in pumping your “INSTITUTIONAL” bags.

4-5 years ago, BTC dominance quickly rose to the 65% range and bounced around before a sharp drop starting in Feb 2021- exactly 4 years ago.

Now, btc has grinded back to 60% (slowly) as we're constantly reminded of the BILLIONS of inflows into etfs. Saylor is borrowing every which way to buy more, and we are dangling the carrot of federal reserves.

What's more, ethereum share has not been increasing.

So, how is it the dominance hasn't reached levels higher than 2020?

Well, if the institutional investment is what created the rise in bitcoin, then retail obviously is putting their money into altcoins.

The narrative is that etf buyers won't rotate and hence there won't be an altseason.

Well, we had alt season without institutional investors before, and the since dominance hasn't skyrocketed with all the institutional dollars, the only explanation is retail wants alts.

This altseason comes with crypto being more accepted as mainstream, and heck if Trump can push a memecoin, I think a whole lot of retail will be jumping in.

BTC certainly will be the "safer" bet, but it also will supply consistent value for the percent of retail that wants to rotate. And obviously much of retail is just heading straight to alts.

You can tell us all about how btc outperforms over time and most alts crash. It doesn't matter- people want to win big, and there are enough alts that create outsized gains that retail is going to chase.

In the end, "dominance" can go up AND plenty of alts can make amazing gains. ETF folks can enjoy their safe (and still impressive) gains, while a percent of retail can hit it big. I just don't see this changing no matter how many arguments are presented.