Total Market Cap- The “Pullback Phase” Before ExpansionPeople keep saying we’re in a bear market for crypto… I disagree. What we’re seeing is a macro-scale pullback, not a collapse.
On the 4-day Total Market Cap chart, the low for 2025 printed on 11 / 01 / 2025 at $3.21 T, lining up perfectly with the 0.318 Fib extension and forming a strong liquidity grab before reversing higher.
The previous high sits near $4.27 T, which remains the key level to reclaim for full-trend confirmation.
Between $3.65 T and $3.24 T, we’ve got a clear liquidity zone — essentially a re-accumulation range where smart money accumulates before the next leg up. Notice how price wicked deep into that pocket, then bounced immediately; that’s textbook spring action, the same pattern that marks the end of most mid-cycle corrections.
From here:
The first major Fibonacci retracement to watch is the 0.382 at $3.62 T — holding above this keeps momentum intact.
The 0.5 level (~$3.74 T) is the first confirmation zone for a bullish retest.
A breakout through 0.618 (~$3.87 T) would likely open the path back to the $4.17–4.27 T region and, eventually, the golden zone around $4.44 T.
Overall In my Opinion
This entire move from $3.65 T → $3.21 T looks less like a bear-trend continuation and more like a long-scale accumulation phase — what Wyckoff called the “spring wick.”
Until we break below that $3.21 T low with conviction, I’m treating this as a pullback before continuation, not the end of the bull cycle.
In my opinion: it ain’t over yet baby 🔥
