ETH ETFs have seen mostly outflows since the October 10th liquidation event. See Farside for the flows. Tom Lee is buying, but the ETFs are selling. The ETHZilla DAT also had to sell recently.

The ETH:BTC ratio has also gone up and down in an upward trend. See the 2020-2021 cycle.

But it is hard to ignore the BTC.D trend.

Argh fuck a duck, I see what the cheeky bastard did on the chart I look at. Ok, ok. Well that makes much more sense now because I was scratching my head going there isn't anyone with that much to transfer.
I understand dominance. I had that line for years and everyone said I was wrong and it would go to 0.055.... then it hit my line and also tagged 4.9k vs my 5.1k target. I agree your chart looks good..... Through the eyes of an Autist on lower time-frames I can see the timing shift which nullifies that 12mth view pattern because at some point the big red candle shifts to a different year.
Hence I stated many times trying to time the rotation will get you wrecked. This will hit way worse next time around. I'm assuming I continue to be correct of course but no need for me to change course yet, it's still BTC FTW for quite a while.
Why is everyone so bullish on ETH for 2026? Is the only reason "it didn't hit my target, therefore I will be correct next year"?
On a different note, property here is currently +9.1% vs my 10% target for 2025 i had 5yrs ago. I looked horrifically wrong the first half but I said just wait, hold your horses and BAM explosion of the market 😉 Media is beating up 2026 property market quoting rate rises meanwhile I have +13.5% growth next year and -0.5% cuts lol.
Fuck the media, fuck economists is my policy at this point. They have been so wrong these last 5yrs.