Past month Crypto Performance by Sector is showing a similar scenario as we've seen for most of this cycle.
This bounce was led by $BTC, Memes & AI coins.
In this case this was also partially due to Memes/AI being a lot, therefore the short squeeze was a lot bigger than most coins that were more resilient on the way down.
Whether this trend continues past this relief bounce will be the big question. I think there's still a good case to be made for the AI narrative to continue for a while as it will remain a hot topic around the world.
I do hope to see utility shine through at some point. Whether it's revenue generating DeFi protocols or something else. That would set a solid base & momentum for the general market to go up for a while.
People need to be able to believe in something "real" again. That's how the previous cycles have had such good returns and interesting developments.
