Understanding the Crypto Market CapThe cryptocurrency market has experienced significant growth but more recently saw a huge decline as sentiment soured due to several scams, insolvencies and a lack of regulation.
Bitcoin, the first and most well-known cryptocurrency, has played a significant role in this growth. In this analysis, we will explore the relationship between the crypto market cap and Bitcoin.
Bitcoin's dominance in the cryptocurrency market has been significant, with the market capitalization of Bitcoin accounting for over 40% of the total crypto market cap.
As a result, changes in Bitcoin's price often have a ripple effect on the entire crypto market. When Bitcoin's price rises, it can create a positive sentiment across the market, leading to increased demand for other cryptocurrencies and driving up the total crypto market cap.
Conversely, when Bitcoin's price falls, it can lead to a decrease in demand for other cryptocurrencies, causing the total crypto market cap to decline.
There are several factors that influence the relationship between the crypto market cap and Bitcoin.
One of the most significant factors is the overall sentiment toward cryptocurrencies. When the sentiment is positive, investors are more likely to invest in Bitcoin and other cryptocurrencies, leading to an increase in the total crypto market cap.
However, negative sentiment towards cryptocurrencies can have the opposite effect, leading to a decrease in demand and a decline in the total crypto market cap.
Another factor that can influence the relationship between the crypto market cap and Bitcoin is regulation.
Regulatory changes, such as bans on cryptocurrencies or increased oversight, can have a significant impact on the market. For example, when China announced a crackdown on cryptocurrency mining and trading in May 2021, it led to a sharp decline in Bitcoin's price and a subsequent drop in the total crypto market cap.
Furthermore, technological advancements and developments in the crypto space can also influence the relationship between the crypto market cap and Bitcoin.
For example, the rise of decentralized finance (DeFi) has led to the development of new blockchain-based financial products and services, driving demand for cryptocurrencies and increasing the total crypto market cap.
So, what does this mean for investors and traders?
Understanding the relationship between the crypto market cap and Bitcoin can be useful in making informed investment decisions.
When considering investments in cryptocurrencies, investors should carefully monitor the price of Bitcoin and its impact on the total crypto market cap. Additionally, keeping an eye on sentiment, regulation, and technological advancements can help investors make more informed decisions.
However, it is important to remember that the crypto market is highly volatile and can experience rapid price movements, making risk management strategies crucial for success in this market.
Totalmarketcap
What's up about crypto market cap💰. TOTAL CRYPROCAP 📈📉Hello guys. This is an update of previous analysis (blow link), The chart is very similar to Bitcoin now. After breakout the trend line , I expected some correction as a pullback and complete the pattern then continuation of upward but this has not happened yet and the market needs that ,Consider it and monitor the price's action in the circles.
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TOTAL Crypto Market CapAs we can see from the chart, PA has got above the neckline of the FTX drop and more importantly, is now using it very clearly as support while things cool off
This line of support also happens to be the 236 Fib retracement line.
Golden Cross on 500 / 200 MA
MACD & RSI all in good shape to push up again. The Only thing is the StochRSI on the weekly, which is overbought but can range longer. A Small Dip in PA would take that back down.
There also appears to be little resistance above. Maybe that target of $30K is a possibility now
But be under no false impressions, I am still expecting the Summer period to be hard for everyone as "Debt Ceilings" get called out in the USA economy and the treasury stops "helping"
This could upset things
Lets take it step by step and for now, Bitcoin & Crypto looks good, as recent 600%+ gains in various smaller cap coins shows.
TOTAL MARKET CAP 12Hr UPDATE BY CRYPTOSANDERS
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TOTAL MARKET CAP ANALYSIS UPDATE:-After getting rejected from the strong supply zone, it is now bouncing off the ascending trendline support, where the Ichimoku cloud is also acting as a support.
The MACD crossover is losing bearish momentum, and as long as it holds above the Ichimoku cloud, we can expect a continuation of the bullish trend. While a solid break of the Ichimoku cloud will signal further correction in the Alts.
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Crypto total market cap compared to wall street cheat sheetIf crypto total market cap is following wall street cheat sheet fractal:
Capitulation (3AC/LUNA) created first low
Anger (FTX implosion) created lower low
Depression creates final low
Prediction: we sweep the FTX lows from Nov/Dec 2022 creating an August 2015 style bottom in August 2023
TOTAL Crypto Market CapLooks like PA is likely to come back down and test the Neck line of the FTX recovery, as support
This is NOT a bad thing
If we continue through the neckline, THATS a bad thing
GOOD Things are the possible, Very likely GOLDEN CROSS with the 50 /200 MA on thursday - should lead to more positive Sentiment
TOTAL Crypto Market cap DAILY UpdatePA is ranging while the daily MACD cools off, as it has now done. It could Drop lower and signs are it may well do so. RI is nearer 0 and may bounce of it if PA decides to continue to range and not come back down to test support on the neckline of the FTX Recovery ( Dashed /white line). What has kept the TOTAL PA up while BTC has been ranging are the lower cap coins, or OTHERS, though I feel this may change now as the Bitcoin Dominance chart shows a turn of trend maybe towards more bullish end of week, possibly
What is interesting is that we are approaching that "Golden Cross" on the TOTAL chart, the 50 EMA ( Red) crossing over the 200 ( Yellow) - Should PA drop to the neckline, this will postpone this very Bullish sign, depending on how fast that drops. For me, I see it crossing on Thursday but maybe remaining a very shallow distance between the two for a while.
Over all, I feel things are stuill good in Crypto space and we all should be looking ahead and accumulating..
The New age of Finance is here and it is developing VERY WELL
TOTAL2 Scenarios, Bull and Bear TOTAL2 has formed a strong upward movement, this could be followed by further upward movement, favoring continuation or a downward move, favoring the chart pattern of an inverted H&S
TOTAL2 is the altcoin market, but largely follows BTC and TOTAL
Lets see what happens
4Hr chart
TOTAL - Crypto market phases🟩🟨🟥⬜️Update on this chart since ~5 month dear Crypto Nation😎🚨
These repeating patterns of different market phases are still valid IMO🟩🟨🟥⬜️
Did we finish the A-B-C correction and are at the start of the Bottom market phase for Cryptocurrencies ❓
Let me know your thoughts in the comments🤗
⬇️⬇️⬇️
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Disclaimer:
Not financial advice
Do your own research before investing
The content shared is for educational purposes only and is my personal opinion
TOTAl weekly observation EDITTEDPREVIOUS VERSION OF THIS POST GOT MESSED UP AND I LOST TIME TO EDIT SORRY
this one should make more sense
The Green box we are in currently has acted as Support and resistance for a few months now but maybe its time is coming to an end.
Note the exact same day spans on the marked zones.
Note that the Descending channel that PA is in, is getting tighter and currently, as PA remains pressed under the line of resistance, the other trendline Gets closer.
Time is running out for PA to react and react it Must - As you can see, the 112 day limit on the right is exactly when the two lines of Resistance cross each other
Failure of PA to react to this would be a big move to lower support, probably back to wicking down to the $17K Mark on a weekly Candle
We shall see
TOTAl weekly observationThe Green box we are in currently has acted as Support and resistance ofr a few months now but maybe its time is coming to an end.
I notalso note that the Descending channel that PA is in, is getting tighter and currently, as PA remains pressed under the line of resistance, the other line Gets closer.
Time is running out for PA to react and react it Must - As you can see, the 112 day limit on the right is exactly when the two lines of Resistance cross each other
Failure of PA t esed the similar time spans, as marked on the chart, and the 3rd should see us out of that Box, in an uptrend.
You will acpe this would be a big move to lowwer support, probably back to wicking down to the $17K Mark on a weekly Candle
PA needs to break UP
Lets see
TOTAL Crypto Market Cap WEEKLYAs we can see, the Range Top has once again rejected PA in a very similar manner to when it did the same in Jan '21.
That led to 2 weeks of Red and then a short Green to once again Test the upper trendline, which we broke through.
There are a number of things that point towards this possibly repeating itself, not the least of which is the seemingly reawakening DXY.
DXY is also following a possiblr Frsctsl and if it is valid, the push could last up to 2 months - So not 100% confluence but certainly to start with
Also, the 200MA (yellow) has also seemingly rejected PA. So I think it is safe to assume PA will cool down for a bit possiblt coming down to test the diagonal trendline as support
Nothing is ever set in stone but these are ideas............
TOTAL Market CapPA Still holding on to the Neckline of the "FTX crash / Recovery" while the Bearish MACD continues to cool off. PA could visit that lower trendline before MACD turns Bullish again that that would not be a big problem, testing resistance is always a good idea.
It may be Noted that TOTAL3 ( Excluding BTC & ETH) has Still not managed to break over this Neckline, which simply shows that BTC is stronger than ALTS currently but the TOTAL3 chart has being showing a % of gains until this cool off - The ALTS are very much alive
TOTAL Versus TOTAL3 ( Exclude BTC & ETH )A very Simple chart that clearly shows how ALTS are lagging behind BTC in the "recovery " phase but are making a HUGE effort to catch up now and break back over the Neckline of the "FTX Crash" line
Bitcoin has broken over it a week or so ago and is currently hoovering around the $1trillion Cap price - The ALT market has been catching up at a higher rate as can be seen by the larger % Gains daily. on the TOTAL3 chart
Thing is, I have been expecting a Cool off ever Since BTC got back over that neckline but it seems the market will keep pushing till ALTS are out of the dark to...
This is an EPIC show of strength by the Crypto market in general
VERY VERY BULLISH
Total Crypto Market Cap WeeklyI noticed a similarity and thought I'd share
March 2020 Drop in PA was sudden and dramatic as was the V shape recovery.
What I noticed was the % of rise from the long term trendline to where PA levelled out, while it cooled off before the next move and what PA has Just done.
And as you can see, it is very similar and if PA takes 70 days to cool off, as it did before, that takes us to end of March, Which has confluence with other charts about when PA maybe making another Move.
I will stress that this is pure speculation and has no real proof..It is an idea.......but one worth watching I feel