BTC overnight touched $79,198, only $802 away from $80K, fear and greed index jumped from 26 to 47 in two days, the extreme fear has officially shifted to neutral bitcoin:native

This recovery speed surprised me; historically, this pace is not the top, but a window where cautious funds start to test the waters
Open interest has slightly declined from its peak, funding rates are close to zero, leverage is not overheated, I feel $80K is not a problem, just waiting for spot to make the final move
Another thing I noticed today is that the popularity of SOL and XRP on Reddit suddenly exploded, SOL +150%, XRP +600%. XRP has SEC delisting as a catalyst, SOL does not, just BTC sideways movement has caused funds to shift into higher beta assets. The signs of altcoin rotation are emerging, but BTC needs to stabilize above $80K first to boost confidence
EF sold a total of $47 million worth of ETH three times this week, and the more I look at it, the more uncomfortable I feel. It’s not that they can’t sell, but the pace and scale are accelerating. ETH is digesting it smoothly now, but if this becomes a weekly routine, ETH/BTC relative performance will be hard to be optimistic about
Another counter-narrative is that CoinFund President Perkins said even if the Clarity Act doesn’t pass, the crypto industry will be fine. I feel this is cooling the market; insiders’ expectations for legislative certainty are not as high as external narratives suggest
April was the best month for BTC in nearly 12 months, May started well, but spot prices haven’t caught up yet, all signals are still building momentum
Do you think this altcoin rotation is real or just a false move?
Not investment advice, DYOR