This cycle, potential return ranking:

$ETH > $BTC > $HYPE

The logic:

$ETH has been sideways for years, massively lagging $BTC. Still has serious catch-up room if rotation flows out of BTC into alts.

$BTC already ran hard — institutions, ETFs, demand all in. Still bullish long-term, but upside from here looks capped vs $ETH.

$HYPE ripped. Most bullish catalysts around Hyperliquid already baked in. Still holding, still long-term bullish, but expectations are stretched.

Doesn't mean $ETH is safer or $HYPE can't surprise. Just saying: from current levels, $ETH looks like the better risk/reward.

Biggest conviction this season: $ETH.