What is the only thing that matters?

You should know by now.

Liquidity.

I think when a chart like ETH/BTC gets posted, most people don't understand that it follows a very strict pattern.

They think that it doesn't matter if its going up today... they think it could just reverse tomorrow and go all the way down again.

But that is not how it works.

Different charts follow different patterns, and ETH/BTC is one of the most important ones to understand when it comes to overall market position.

Ethereum is a risky asset and highly sensitive to liquidity.

And as we can see from this chart, ETH/BTC begins to outperform and get stronger against Bitcoin, only once the Global liquidity index breaks into new highs.

After the GLI breaks into new highs and continues then continues higher, is when Ethereum really finds its strength and goes into its own price discovery...

Sending ETH/BTC into aggressive moves higher and reaching the cycle top.

A very interesting thing to note is that each GLI breakout is getting higher and longer...

And this one has only been happening for 9 months, with ETH/BTC reversing exactly around that time.

So, again...

This is not the phase in which the cycle has peaked.

This is the phase in which liquidity is becoming abundant and moving up the risk curve.

We are not just seeing this in Crypto with ETH/BTC, we are seeing the exact same thing in Stocks with the Russell 2000.

What I am trying to help you understand here is that once these charts enter the next phase of these patterns, they don't just stop.

This is a cyclical event, not because of time, but because of liquidity.

And liquidity has not peaked yet.