My thought process here is as follows:

There are several premise assumptions, let's not discuss their correctness for now, and consider things based on them.

BTC is in a bull market and some indicators are close to overbought/hot, while alts lag behind BTC, which can be seen as the limits of early bull or a dead cat bounce. The pullbacks in a bull market have patterns and limits, and we are discussing short-term trends here.

In the past few days, I believe the pullback for alts has approached/exceeded the limit levels in a bull market. Such pullbacks are rare in a normal bull market, and could be a signal of a reversal.

There are only two possibilities for this signal:

1. The bull hasn't returned yet 2. The bull is about to end

In the first scenario, referring to BTC, I think the bull hasn't returned yet, and there might be some FOMO, which is not very practical.

In the second scenario, I believe the probability of the bull ending for alts might be slightly higher.

To summarize: The divergence is too large, let's be bullish for a few days. There is indeed a possibility that it could pull back to extremes like in early May and then make another move, but if that possibility is ruled out, we must confirm a significant pullback is coming.