Chart 1 & 2 here just show that this past week hasn’t been particularly frothy from a derivs POV for alts vs BTC — nowhere near the crossover yet nor even the more recent small peaks Chart 3 shows progress towards that ETH vs BTC OI crossover I mentioned a few days ago Chart 4 is the more interesting one and I wish we had more historical data — ETH vs OTHERS OI crossing over here for the third time since summer 2023 (see next tweet for price-action implications) I word vomited some ideas around potential rotations over the coming weeks and this is one point of confluence for that playing out (