Last Bull Market was about BTC and alts, we saw some alt seasons clearly noticeable using the BTC Market Dominance Chart but now we have something a bit different. BTC is King and will remain King but that King found a Queen (nothing really new, no matter how you name it).
For some traders/investor, ETH died a long ago. Nevertheless, as we know ETH reborn like a phoenix from the ICO ashes to be the most innovative and used Defi network. Not everything is great since ETH network is quite expensive. We all miss the sub 5 gwei fees for sure…
Anyway, using some alternative methods to find where/when alts could be in exhaustion or expansion I decided to also use this new Market Cap Chart.
On the top we have the Total Market Cap excluding BTC+ETH and below the Market Cap Dominance (excluding BTC+ETH). I do believe we now need to merge BTC and ETH into a single entity since ETH is clearly not behaving like many alts. I also believe ETH will remain more volatile than BTC. This chart isn’t about finding patterns/opportunities for each crypto but instead looking at everything to see where alts may find support or resistance, switching the cycle from alts to BTC+ETH or vice versa.
By the way, I'm not assuming ETH will move with BTC but they complete themselves.
For some traders/investor, ETH died a long ago. Nevertheless, as we know ETH reborn like a phoenix from the ICO ashes to be the most innovative and used Defi network. Not everything is great since ETH network is quite expensive. We all miss the sub 5 gwei fees for sure…
Anyway, using some alternative methods to find where/when alts could be in exhaustion or expansion I decided to also use this new Market Cap Chart.
On the top we have the Total Market Cap excluding BTC+ETH and below the Market Cap Dominance (excluding BTC+ETH). I do believe we now need to merge BTC and ETH into a single entity since ETH is clearly not behaving like many alts. I also believe ETH will remain more volatile than BTC. This chart isn’t about finding patterns/opportunities for each crypto but instead looking at everything to see where alts may find support or resistance, switching the cycle from alts to BTC+ETH or vice versa.
By the way, I'm not assuming ETH will move with BTC but they complete themselves.
