Here's my take on $TAO and the alts 👇🧵

Everyone is talking about QT/QE. Saying alts will continue to get crushed until the FED lets up 🙄 

But $OTHERS isn't in markdown, it is simply rangebound (every alt except top 10). This isn't bearish - it is neutral. 

Meanwhile $TAO is breaking out of accumulation and moving into markup vs. $OTHERS. 

It is still in a growth phase when compared to $RNDR - the natural course for a parabolic move in the last 2 instances. 

Translation: $TAO is rising from a bottom, and showing strength relative to alts in a time when alts are oversold.

It is impossible to say when alts will start to really outperform $BTC, but BTC.D. still looks toppy as it tests a major supply zone. 

Expect violent bounces. NFA but this isn't a place to capitulate with alts.