A close read of monthly chart structure across Ethereum and the altcoin market cap excluding the top 10 reveals a striking parallel: both have traced nearly identical drawdown profiles and time cycles since the November 2021 peak. Ethereum's 82% peak-to-trough decline mirrors the broader altcoin basket's 85% drop, and both charts now sit roughly 1,600 days from that high — the same duration that preceded a 1,200–1,300% expansion phase in the prior bull cycle.
The catalyst argument centers on macro: PMI expansion, Fed liquidity, and a productivity boom that hasn't yet materialized. When it does, the analysis suggests altcoins won't just participate — they'll likely outperform Ethereum, precisely because institutional money has been quietly positioning into names like Chainlink while retail sentiment has written the sector off entirely. ETH spot ETFs are already outpacing Bitcoin ETF…