The current rally is showing real resemblance to the 2019 mini-bull as once again BTC dominance goes up while alts bleed.

It‘s certain that history does not always repeat itself but it certainly does also not mean that history does not rhyme because the market is always based on the human psychology and that is always repetitive. Right now our rally off the lows from Nov 2022 is showing some crazy resemblance with the reversal we had in 2019 after our 2018 bear market bottom.

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2019 rally off bear market bottom

Here you can see how Bitcoin reacted to that back then, we had a 350% rally off lows and nearly to a completely new ATH until we entered a crabbing and correction phase.

And now how did ETH in comparison to BTC react to BTCs rally?

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ETH/BTC chart

ETH/BTC index immediately began a drop as Bitcoin started the rally, showing that it was just a BTC really and alts were not really involved. Typically, BTC moves first and then alts follow once BTC pauses or even corrects but this time alts just crabbed and bleed further as BTC started to correct from last 2019 on.

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DOGE chart from last week

Here is DOGE as an example to the situation in the current rally and it is the same kind of chart with many other alts. While BTC made over 80% gains this year, alts were not really able to follow, especially this rally of the past week seems to have been mostly exclusive for BTC.

I think that now we can all see how in 2019 the rally was mostly just Bitcoin exclusive and this time too and how both rallies were directly after bear market bottoms.