I'm surprised by the lack of dispersion on the way down. Most crypto assets down roughly the same amount off the highs. I expected far greater differentiation.
Wouldn't smart money already have large positions? Seems like we're waiting for a FOMO catalyst and new money to enter. Examples: spot BTC ETF, lightning gains major traction, sovereign buys, debt crisis etc. (Ironically new money buying into these events will look smart)