No clue why people think we’re close to a top Retail is broke from trenching, alt bag holders have gotten rekt for the last two years, no new defi, no lucrative ponzis KoLs have lost followers, media companies are rekt, blockworks is getting like, 12 views per podcast No one is shilling email newsletters, no Twitter-native slop to farm followers, you tell your uncle you work in fintech, everyone is broke, no APs or Lambos on the timeline, no trending coins on DexScreener above $10m, alt L1 ecosystems are dead, no onchain activity on Ethereum or any L2s. Trend chasers and midwits pivoted to AI Meanwhile trad tech is raising for/announcing stablecoin infra, Cobie is bullish, retail is sidelined Crypto market cap excluding Bitcoin went from $55b in March 2020 to in Nov 2021 ~1.8b in Nov 2021: over 30x Less total value has been added to altcoin market cap this cycle than between March 20 and Nov 22, and you’re calling top? But the best bottom signal: you’re broke. Once you’re rich again, sell everything the lion doesn’t concern himself with bears(Jack Niewold 🫡)