Using retail activity in other crypto markets as a leading signal for Bitcoin?

With negative real yields and the broader macro setup, a lot of people are trying to figure out when retail capital actually starts flowing back into Bitcoin in size.

I recently listened to a podcast discussion between Jordi Visser and Anthony Pompliano that made an interesting point: watching retail-driven moves in parts of the market with almost zero institutional participation can act as an early tell for when broader retail interest is returning – which has historically preceded stronger moves in Bitcoin.

The idea is that these areas often light up first when retail is coming back, before it shows up clearly in Bitcoin’s own on-chain data or spot volumes.

Has anyone here tried tracking retail flows or sentiment in other crypto markets as a leading indicator for Bitcoin? Do you find it reliable, or do you prefer sticking strictly to Bitcoin-specific metrics like the 200-day moving average, small-wallet activity, or exchange flows?

Curious what’s worked (or hasn’t) for people in past cycles.