12h ago
Everything about this cycle is different. In ZERO prior BTC runs did altcoins bleed this hard against it after a new all-time high. They tended to run alongside BTC until the peak, then mooned even harder. Their current position is not one from which retail suddenly gets interested, piles in and sends them to the stratosphere without a brand new paradigm changing catalyst. Dispersion, grift, lack of utility, higher interest rates, and being four years removed from a GFC level lending collapse in the space have combined to make this a blood moon for cryptos outside the top 5 or 6. Not even the first crypto president has been able to change this.
4d ago
If you remove the top coins which made all time highs this cycle the crypto market cap is still 50% below the 2021 peak and hasn't come close to breaking out. Virtually the entire move in TOTAL has been from the five largest market caps and stablecoins. Puts some of the recent crypto moon calls into better perspective.
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