TOTAL3 · Breakout or Fakeout · Where’s the Money Going Next?

Everyone keeps saying “altseason is here,” but when you actually look at TOTAL3 , it doesn’t feel like that at all.

Back in 2018, TOTAL3 - the total market cap excluding Bitcoin and Ethereum, is in price discovery with no resistance above.

But let’s be real, this breakout feels different this time. Volume isn’t surging like it did in 2021, and the candles show hesitation. That means capital is flowing, but it’s not flowing aggressively. Smart money’s rotating, not chasing.

Altcoins as a whole aren’t exploding too, only a few names like BNB or SOLUSDT ecosystem tokens are showing strength. The rest are flat or fading.

Meanwhile, TOTAL TOTAL1, the full crypto market cap, keeps pushing higher, driven mainly by Bitcoin. It measn most of the new liquidity is still being absorbed by BTC rather than spreading across the broader altcoin market.

If TOTAL3 holds above $1.14T for a few more weeks, it’ll confirm the breakout and probably push toward $1.5T in Q4, but trust me "NO MORE ALTCOIN SEASON"

So yeah, we got the breakout everyone wanted, but not the fireworks yet.

Best,
The Crypto Fire