Top Left TOTAL CRYPTO MARKET CAP
Top Right TOTAL 2 CRYPTO MARKET CAP ( Minus Bitcoin )
Bottom Left TOTAL 3 CRYPTO MARKET CAP ( Minus BTC and ETH )
Bottom Right OTHERS CRYPTO MARKET CAP ( Top 125 coins Minus Top 10 by dominance )
50 SMA RED
100 SMA BLUE
128 SMA GREEN
TOTAL Cap is the ONLY one that has broken above the 2021 ATH and has subsequently dropped back under but is still "touching the line" with a Wick up from the current candle.
It can also be seen how it is only the TOTAL chart that has remained easily above the 50 SMA since late 2023. The toer charts can be seen to have needed to bounce of it in 2024
The TOTAL 2 & 3 charts have very similar Candle moves and 50 SMA use.
To me, this is telling us about the Higher Cap ALT coins.
The fact that both TOTAL 2 ( Minus BTC ) and TOTAL 3 ( Minus BTC and ETH ) are similar shows me the little impact of ETH on price rise. These Charts are held up by the Higher ALT coins like SOL, INJ, SUI, XCN, HBAR to name a few. Most of these are still less than 100% gains over the last 12 months.
But what the slight Difference there is between the two charts does show us that ETH is a burden. It is dragging the TOTAL 2 chart down lwoer than the TOTAL 3 and that difference, though small on a monthly chart, is VERY SIGNIFICANT
OTHERS tells a huge story of how the Mid to Lower Caps are paying the price of Bitcoins adoption by Corporations and the fact that, as a result of these Corporations HOLDING, Bitcoin Dominance remaining High. The money that has once been used to Feed the ALT Market is static.
OTHERS is also the only chart that has fallen below its own 50SMA
That is not Bullish and very clearly shows how the Crypto Market has now matured and the absolute Tidal wave of New, worthless, useless ALT coins are failing.
This does not mean that will continue but I am inclined to believe that while we have such uncertainty in the world, the utter risk of investing in something with no use or history and security does not appeal to many.
To many extents, this could be seen as the beginning of the " Dot Com" Bubble burst for Crypto, where the best Coins / Projects are adopted and the rest, well, fall aside......
We shall see
Top Right TOTAL 2 CRYPTO MARKET CAP ( Minus Bitcoin )
Bottom Left TOTAL 3 CRYPTO MARKET CAP ( Minus BTC and ETH )
Bottom Right OTHERS CRYPTO MARKET CAP ( Top 125 coins Minus Top 10 by dominance )
50 SMA RED
100 SMA BLUE
128 SMA GREEN
TOTAL Cap is the ONLY one that has broken above the 2021 ATH and has subsequently dropped back under but is still "touching the line" with a Wick up from the current candle.
It can also be seen how it is only the TOTAL chart that has remained easily above the 50 SMA since late 2023. The toer charts can be seen to have needed to bounce of it in 2024
The TOTAL 2 & 3 charts have very similar Candle moves and 50 SMA use.
To me, this is telling us about the Higher Cap ALT coins.
The fact that both TOTAL 2 ( Minus BTC ) and TOTAL 3 ( Minus BTC and ETH ) are similar shows me the little impact of ETH on price rise. These Charts are held up by the Higher ALT coins like SOL, INJ, SUI, XCN, HBAR to name a few. Most of these are still less than 100% gains over the last 12 months.
But what the slight Difference there is between the two charts does show us that ETH is a burden. It is dragging the TOTAL 2 chart down lwoer than the TOTAL 3 and that difference, though small on a monthly chart, is VERY SIGNIFICANT
OTHERS tells a huge story of how the Mid to Lower Caps are paying the price of Bitcoins adoption by Corporations and the fact that, as a result of these Corporations HOLDING, Bitcoin Dominance remaining High. The money that has once been used to Feed the ALT Market is static.
OTHERS is also the only chart that has fallen below its own 50SMA
That is not Bullish and very clearly shows how the Crypto Market has now matured and the absolute Tidal wave of New, worthless, useless ALT coins are failing.
This does not mean that will continue but I am inclined to believe that while we have such uncertainty in the world, the utter risk of investing in something with no use or history and security does not appeal to many.
To many extents, this could be seen as the beginning of the " Dot Com" Bubble burst for Crypto, where the best Coins / Projects are adopted and the rest, well, fall aside......
We shall see
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.