Crypto Total Market Cap near critical inflectionWe have seen the total market cap slowly trending down for quite some time. It is now approaching a very key inflection point at a potential rejection of the 4hr 400 EMA which has the potential to have us seeking out the most significant period EMA, the 800 EMA, which comes in just below this closest order block.
If that 800 EMA is lost, we will likely see a quick trip back down below 1T again. I personally am holding off on too bearish of sentiment until 1.10 is decisively lost. I have to say, I have seen things look much better. Still not over though, I hope we come down big so we can stack some more. Be careful out there, may all your bags PAMP
TOTAL trade ideas
Crypto Total Market Cap Siamese Twins Head and ShouldersThis is a very dangerous looking daily chart on a macro scale this is not looking very good at all. It is not impossible we see a crazy few daily candles to wreck all the shorts set up throughout the local range. This chart is suggesting something not very good is inbound for these markets. It is still too soon to say and the 200 Daily EMA has been ROCK solid so far. Let's See!
MARKETS week ahead: July 30 – August 5Last week in the news
Both Fed and ECB increased their reference interest rates by 25bps, which was fully in line with market expectations. Markets ended the week digesting the central banker`s view on the current state of both economies, in expectations that pivoting might come somewhere during the course of the next year. All markets slowed down during the week, still S&P 500 ended the week 1% higher on the inflation data. Bitcoin continues to struggle to hold FWB:29K , while Ether finished the week below $1.9K.
There have not been any surprises when Central bankers are in question. Fed increased its reference interest rates by 25 bps as it was expected, with some probability for additional rate hike till the end of this year. In the meantime, figures are showing that the US inflation continues to ease further through the course of this year. Still, Fed Chair Powell continues to stress that further rate increases would be data-driven and that FOMC members will rely their future decisions exclusively on economic data. Some economists are again raising a question of how further increase of interest rates will affect small banks in the US, implying that some of them might enter into trouble, considering incurred fair value losses on Treasury bonds portfolios. At the same time, Central bankers in the EU also raised interest rates by 25 bps, with an old note that inflation will stay elevated for a longer period of time. However, the ECB President Lagarde did not exclude the possibility to pause further rate hikes in September. The recession fears are still very high on the EU market, especially with its major economy, Germany, significantly slowing down since the beginning of this year.
A huge surprise during the previous week was an unexpected move for the monetary policy of the Bank of Japan. As they called it, “a greater flexibility”, means that the BoJ would leave its yield curve to fluctuate within a range of plus/minus 1% instead of current 50 bps. The BoJ is well known for its 0% yields policy on 10Y government bonds. It is keeping their rates around 0% in order to support economic growth. However, this move might have broad implications on developed financial markets, considering that many large institutions were taking advantage of interest rate differentials in Japan and the US or EU. They were taking JPY funds at 0% or near 0% in order to invest them in the western markets at higher yields. A new BoJ policy would mean more expensive funds for investors and lower level of investments in other markets. Both EU and US markets reacted to this news with lower closes.
Worldcoin (WLD) became live during the previous week. It is a project of Sam Altman, a CEO of Open AI, which drew many controversies before its official launch. The coin is based on privacy-preserved identity, or World ID, which allows for humans to have an identity in the digital world. It is also noted that its aim is to “distribute a universal basic income to people worldwide”. However, for authorities in the EU it rang a bell for its data protection rules, as they are currently investigating legality of such a data collection. At the same time, the Worldcoin Foundation commented to CoinDesk that they will cooperate with the government on their “privacy and data protection practices”.
Crypto market cap
The Fed increased its interest rates by 25 bps as it has been expected. Still, posted inflation figures for the US are showing that inflation continues to be on a down-track, which supports investors optimism that the monetary tightening might soon come to an end. Still, it should be taken into consideration that Fed Chair Powell promised two rate hikes till the end of this year, which leave us with one additional 25 bps hike in the coming months. A potential Fed`s pivoting will support investors' appetite for riskier assets. Until then, investors remain oriented toward the equity markets and US Treasury bonds, especially the short term ones. The crypto market is for the last two weeks left aside from investors' attention. Second week in a row the crypto market capitalisation is finishing the week with a modest drop in value. During the previous week, total market cap dropped by 2%, losing $19B in the total value. Major coins on the market were the ones which were dragging the market to the downside. This week, the majority of altcoins also followed the same path. Daily trading volumes were further decreased to the level of FWB:37B on a daily basis, from FWB:49B traded during the week before. Total crypto market capitalization increase since the beginning of this year stands at 52%, where it has added a total $390B to the market cap.
Several altcoins finished the previous week in green. Major coins on the market were the ones that were leading the total market capitalization to the downside in a nominal sense, participating with a total 75% in $19B value decrease. Bitcoin lost even $11.8B or 2% of its market value during the week. Ether managed to hold relatively flat, with a modest drop in value of $2.2B or less than 1%. XRP was also on a losing side, with a drop in market cap of almost $3B or 7.4% on a weekly basis. Other altcoins were losing less than 10%, among which NEO lost almost 6%, EOS was down by 5.3% and Polygon dropped by 6.3% w/w. There were few coins with relatively solid performance, like Maker, who managed to gain 13% in value. There was also a DOGE with an increase in market cap of 8.6%. As for coins in circulation, the market calmed down compared to the week before, and there has not been much change. Polkadot managed to increase its circulating coins by 2.9% w/w, while XRP continues to increase its coins in circulation, adding 0.3% during the previous week. Tether remained flat during the week.
Crypto futures market
Crypto futures market continued its correction which started a week before. During the previous week, there has been a further drop in BTC short term futures by more than 2%, while ETH futures were traded down by some 1.5% on average.
BTC longer term futures also had a correction of more than 2%. Futures maturing in December this year were last traded down by 1.98%, and finished the week at price $30.500. At the same time, futures maturing in December 2024 finished the week by 2.16% lower from the week before, at price $32.880, and down from $33.605 traded as of the end of the previous week.
ETH long term futures dropped by 1.60% w/w. December this year was last traded at the price of $1.911, dropping below $2K psychological level. Futures maturing in December 2024 were traded 1.55% lower from the week before, while still managing to hold above $2K level. Last traded price was $2.032 on CME.
👁TOTAL:Crypto Market Prospect-a Vision of C Market to consider✏️Hi every one! As you know Market is in a questionable Place, Some say Bull Run going to start soon, and some say That was it! and BTC gonna Fall below 10k, I belive The Run kinda Started already! But all opinions aside I had This sight for a while and I'd liked to share with you.
✯So I am Bullish at all, BUT until That moment, I belive market should've go Some Swing Down❗️
How Much? Better Decide together AFTER checking Options in This Sight.
I tryed to empty The chart for The clear view, But some should remain for giving direction,
So please zoom in for more details.
🟣As You can see in The chart,price is playing at a opposite Triangle,Which is at End/Top corner of Another opposite Triangle,
which is much bigger and drew in white.
🟡we also have multi divergence in The chart, most important of them is on Daily {visible at OS/Volume osc/RSI}
I Marked Them with yellow colored brush, one more lesser important divergence is in 4H,visible in green brush if you zoom.
📌 📌 📌 As I Mentioned vision is what is more important,But I also marked The bear Time Targets on The chart With pink H.ray ,
Here we go;
1️⃣ 1.17T when Price test downside of The channel and rise, which is dreamy For Bulls!!
2️⃣1.033T when Price test The mid of Second/smaller Triangle and Break out/rise.
3️⃣845.588B when Price go Down and complete another Side of T , Then Break Out.
4️⃣462.473B when Price swing down smaller Triangle,Break it down and fall to form a whole New Side of That Main Triangle.
[Not LIkely/BEARS choice
📊I repeat,I Just want to give you a prospective and share a Sight,
and I appreciate your comment, good when you say you are interested out loud,
commenting your own sight will also be Nice
Thank you
Let Time Be Your GuideCrypto Market Monthly Chart
The Crypto Market Cap can offer great perspective for long term swing trade entry and exits into BTC and ETH, and should be watched closely as this market develops.
There is a clear time pattern which would suggest that you should have your position or at least be DCA'ing now into the reliable market participants BTC and ETH.
You should have a position size that would allow you to withstand volatility down to €17k and not exit the trade, you should have a position you wont exit until mid 2025.
The 10 month moving average is also turning up and moving in the right direction again, as it did during the orange "Get Ready" periods historically, these were good entry periods.
With a recession looking very probable in the next 6 - 18 months (as the yield curve has started to un-invert), it is important to recognize that we might have a March 2020 style correction for the Crypto Market Cap, thus I have overlaid that bull period (Jun 2019 - Nov 2021) onto the chart as a projection of what may be possible. It would not surprise me to see a correction of this magnitude down to approx. €17k, do i expect to happen? NO! but we have to be open to the possibility, especially with the high probability of a recession over coming 6 - 18 month period. Thus it would be wise to position accordingly and potentially have a little powder on the sidelines. Regardless, you should have your core position in place or be getting it in place as there is likely a 29 month period of upwards trajectory incoming and all you truly need is to maintain your emotions and practice patience until mid 2025.
Good luck on your 29 month trading journey, stay focused on time and patience.
Total Crypto Market Cap Idea for the next BullrunHello all,
Here is a draft with my idea of the top market cap for the next bullrun.
Here is the data that I took as reference for these numbers:
First Bullrun I experienced was in 2017. During this bullrun the Total Market Cap surged 10x from the bottom. The duration from bottom to the top till the end of total cycle was around 1250-ish days. The full market cycle was from 2016-2020.
The second Bullrun did almost the same as the bullrun in 2017. Total Market Cap did a x10 and with the current market and the expectations it will take another 2150-ish days for full bear to bull and back to bear cycle. The full market cycle will be from 2020-2024
So with the numbers above, I expect another x10 for the coming new full market cycle from 2024-2028.
NFA as always, just my thoughts :)
Cheers,
Ertugrul
Crypto Total Market Cap : ROADMAPHi Guys,
I update the analysis and show you the new roadmap please check the last one and decide to do what do you like to do.
SecondChanceCrypto
⏰25/JULY/23
⛔️DYOR
Always do your research .
If you have any questions, you can write them in the comments below.and I will answer them.
And please don't forget to support this idea with your likes and comments.
Crypto Market Is Getting Ready For A Bullish ContinuationCrypto market is clearly bullish from Elliott wave perspective.
After a completed A-B-C correction back in June, we have seen nice and clean five-wave recovery, which from Elliott wave perspective indicates for more upside, ideally as part of higher degree five-wave bullish impulse. However of course, nothing goes in straight lines, so after every five waves, there's a three-wave a-b-c correction before the uptrend resumes, which can be now underway or maybe even approaching the end. First support we see here around 1.12T - 1.10T area, while second support would be around 1.05T area if correction will be more complex and deeper.
Crypto market is bullish as long as it's above 1T invalidation area.
MARKETS week ahead: July 24 – 30Last week in the news
While EU markets finished the week in green, amid positive corporate results, US markets were traded in a mixed manner, as investors still need to digest the latest corporate data and prospectus for the future period. The S&P 500 was traded almost flat on Friday, after adding 0.69% during the week. The crypto market remained relatively flat on a weekly basis, with Bitcoin ending the week testing $30K support, while Ether was traded below $1.9K.
Market interest is currently focused on the next Fed move with respect to its monetary policy and increase of interest rates. The FOMC meeting will be held on July 26-27, where its members will decide whether current economic conditions support another rate hike. Majority of market participants continue to be of the opinion that another 25 bps rate increase is coming. Fed Chair Powell previously promised two rate hikes till the end of this year. There is a small portion of investors and economists who are of the opinion that Fed might pause during July`s meeting. Such an opinion is supported by the latest inflation data, which shows that it is cooling down, but still, it moves at a higher level from the Fed's target of 2%.
The Federal Reserve officially launched its new payment system called FedNow. It represents an instant payment system, which is expected to improve the flow of money for individuals and businesses. As it has been noted, 35 financial institutions have accepted FedNow, including big names like JPMorgan and Wells Fargo. Fed is expecting to further develop the system and to include it into websites and applications of banks.
Ripple – SEC dispute might be over, but SEC`s fight against digital asset industry is still not. During the previous week SEC Chair Gensler asked the US government for additional $72 million of funds in order to protect investors in the crypto market from “noncompliance”. He also called the current crypto market a “Wild West” and stressed the need to protect investors' “hard earned money” from “fire and noncompliance” of the crypto industry.
Cathy Wood, CEO of Ark Investment fund, was commenting on the strategy of its Innovation Fund and noted that the fund had decreased its exposure to China to zero. The rationale for such a decision was a slowdown of this market. Funds are transferred to the local US market and companies within the tech industry like Tesla and Coinbase.
Metaverse continues to drag businesses, as they are trying to expand reach to the customers even in the digital world. During the previous week McDonalds, a fast food giant, opened a McNuggets Land in the Metaverse, as a sort of virtual restaurant.
The European Union is speeding up its efforts for the introduction of its digital currency – digital Euro. The Central bank of France conducted testing of the cross border payments, during the previous period, and concluded that a wholesale digital currency, created for use by business entities within the EU, will significantly improve cross border payments and settlement of transactions for various financial assets.
Crypto market cap
The celebration of Ripples' win over SEC has been short. During the previous week SEC Chair Gensler asked the US Government for additional funds in the amount of $72 million in order to fight the “Wild West” in the crypto industry. This move represents his determination to make crypto businesses comply with the current Securities laws in the US. There are still pending SEC lawsuits against several big players in the crypto industry, waiting for its court resolution.
Although, on one side there are businesses who are arguing the lack of clear crypto regulation, there are still those, including SEC, arguing that the regulation exists and it just needs to be implemented among crypto participants. Instead of making an argument-deal between the SEC and the crypto industry, it seems that the regulation in the US will be determined by the court decisions. On the other hand, investors are also weightening potential Fed moves on July`s FOMC meeting which will be held in a week ahead. Those were the main reasons why the crypto market slowed down during the previous week. Total crypto market capitalization was modestly decreased by 1%, losing FWB:13B within a week. Major coins were the ones that were driving the crypto market cap to the downside. Daily trading volumes significantly dropped during the week to the level of FWB:49B on a daily basis, from $82B traded during the week before. Total crypto market capitalization increase since the beginning of this year stands at 54%, where it has added a total $409B to the market cap.
Major coins on the crypto market were slowing down, however, investors' interest is still on altcoins. Bitcoin lost $7.6B on a weekly basis or 1.3% and was followed by Ether, with a loss of 5B in market cap or 2.1%. Binance Coin also finished the week 2.6% lower from the week before or $1.65B. XRP continues to be positively impacted by the resolution of the Ripple – SEC dispute. The coin managed to add an additional 8.3% to its market cap during the week, increasing it for $3B. Several other coins had a very good week in relative terms. Stellar managed to gain 26% during the week, while Maker increased its market cap by 24% w/w. LINK was also in the group of significant gainers, adding almost 15% to its total capitalization. Within coins in circulation there had again been some interesting developments. BNB decreased its circulating coins by 1.3% on a weekly basis, which is something not frequently seen on the crypto market. At the same time, Algorand continues to increase its coins in circulation by 1.1% during the previous week. Solana had an increase in coins by 0.3% w/w, same as Stellar.
Crypto futures market
Crypto futures market was in a modest correction during the previous week, but most importantly, the prices are still holding above significant levels. BTC short term futures were traded lower by 1.3% on average, which is in line with the spot market. Longer term futures were lower by more than 6%. Futures maturing in December this year are still holding above FWB:31K , finishing the week at level of $31.115. At the same time, futures maturing in December 2024 were last traded at price $33.605 on CME, down from $35.8K traded a week before.
ETH short term futures had a lower drop during the week than the spot market. These were traded around 1.5% lower from the week before. Longer term futures were traded around 6% lower from the week before, with December 2023 finishing the week at level of $1.942, while December 2024 ended the week at price of $2.064. On a positive side is that the price is still holding above $2K, which is a psychological level for ETH.
The Crypto Market Shakeup (#TOTAL): Breaking Through Key Support🌴 Paradisers, let's delve into the recent developments surrounding the Crypto #TOTAL Market Cap and its potential implications for the cryptocurrency market. 🌴
💎 A significant event has occurred as the Crypto #TOTAL Market Cap broke through a crucial demand area, signaling a potential shift in the overall trend. Adding weight to this observation, a confirmed Head & Shoulders reversal pattern has emerged, indicating that bears have gained complete control. This situation undoubtedly favors the continuation of the downtrend, presenting a rather negative outlook for the crypto market.
💎 At present, a minor pullback would be deemed beneficial for market health. It is anticipated that CRYPTOCAP:TOTAL will reach the previous demand level, the current supply zone, and the downtrend trendline. Should this scenario unfold as expected, it is likely that whales will begin accumulating short positions, leading to a consolidation phase. This consolidation phase sets the stage for #TOTAL to approach the $950B support area, completing the Head & Shoulders pattern and potentially dropping further to the $876B level. In the event that downtrend pressure remains robust, the final wave down could drive the price as low as $800B. Importantly, this support area finds confirmation from the 88.6% Fibonacci retracement and the Volume Profile level.
💎 However, it is crucial to keep in mind that the bearish scenario will hold true only if #TOTAL fails to breach the $1.138T resistance, which previously acted as a bounce point off the downtrend trendline.
Crypto Total Market Cap (TOTAL) can jump by over 40%💎 This is a follow-up on our last #TOTAL forecast, where we anticipated the continuation of the downtrend but considered an alternative scenario as well. Now, the tide has turned as the bulls conquered the supply zone, making our alternative scenario the main focus.
💎We witness the fascinating transformation of resistance into support, with #TotalMarketCap trading close to the long-term uptrend trendline. As long as we avoid a new lower low on the daily chart, the crypto total market capitalization is poised to surge further.
💎This could mark a significant uptrend, particularly since our critical resistance is positioned near 1.6T, a staggering 40% above the current demand zone. Paradisers, take note that this bodes well for the overall cryptocurrency market, and certain altcoins may experience growth of x5, x10, or even more in the upcoming weeks.
💎The MCP team diligently monitors the current support while unearthing those precious crypto gems. Stay tuned as we navigate the exhilarating crypto landscape! 🌴
TOTAL CarnageA lot of investors are probably asking, WHY IS THIS HAPPENING? We're seeing unbelievable amounts of deleveraging, not just in the cryptocurrency market. Over the last several months, I have posted consistently on why I believed there was significant risk for something like this to occur.
Within the crypto market itself, we're now seeing consistent bad news. Trust is evaporating, as participants now feel that nowhere is safe. The profiteers and the moguls are now being exposed, and the system is failing. Microstrategy's share price is in freefall - and this is something I suggested could happen months ago, before the broader market was considering this as a significant risk. Here is my post about MSTR and Bitcoin from April 30th:
Bitcoin has declined over 20% since that post, while MSTR has collapsed by a staggering 50%+. This tells me that it is very possible investors see Bitcoin has worth far below its market value, and see it as a big risk to Michael Saylor. That means Bitcoin can fall quickly to sub-$20k levels.
Bitcoin has also now broken its long term trend against SPX convincingly.
If Bitcoin is to head back to those lower levels against SPX, and if SPX drops by another 30-50%, Bitcoin could collapse to lows not seen since the 2018-2020 bear market, meaning Saylor would indeed be liquidated at $3.5k. Already, many altcoins are deflating at an alarming rate back to some of those levels. And why would SPX drop by another 30-40%? It's still a ways above a pretty significant long term trendline. If markets can't get it together soon, that remains a glaring target.
Here is where I wrote about the asset bubble and the (actual) death of Bitcoin:
Recently, I wrote about a potential altcoin collapse after noticing the long term trendline break for Litecoin:
I even wrote about an altcoin capitulation back in March, right before the last major market bounce:
Now as for that bounce to $46-48k, here is the post where I speculated why it could happen. Pressing play on this one is fun.
Here are a few of my bearish altcoin posts from the last few months, including where I showed weakness in the Terra (LUNA) chart, while it was still above $90. Pressing play on these charts is also fun, but in a bit of a sickening way.
Terra (LUNA)
Cosmos (ATOM)
Solana
Polkadot
Looking at the above chart for this analysis, you can see that the TOTAL cryptocurrency market cap is now back inside of a broadening wedge pattern, which momentarily broke out to the upside this year.
This is after already breaking a couple of long term uptrends. Falling back inside the wedge and failing to close this week above leaves room for TOTAL to continue its free-fall towards 2018 valuations. This means that Bitcoin can return to $20k or lower within the next week or two, while ETH can venture back to near $1000. There is not much technical support at this point for the market, should the current level fail to hold. This is what a free-fall truly looks like.
If this occurs, it would be continued disaster for the crypto space, as exchanges would likely not have enough stablecoin liquidity to support supply from sellers. Although it may seem impossible, the situation would actually escalate. I can't even imagine the level of nonsense that would occur in this instance, but people's funds would not be particularly safe, and it might even be impossible to sell. If exchanges do collapse, then it would be revealed that Tether was simply the largest counterfeiting scheme in human history, and quite successful. People forget that even once these schemes are revealed, the leaders of the schemes have already won and pocketed billions of dollars in real cash.
Is there any hope? Sure, TOTAL could bounce back over that trendline before the end of the week. That would be a decent bottom signal. But then, in looking at charts for many "promising" projects over the years you'll see that most have failed to maintain significant value. People are holding out for another cycle, thinking that this is just "Crypto winter," and that the hype will occur again. I believe that crypto reached a critical mass - essentially the minimum required value for it to have a permanent negative impact on the broader sentiment towards the market. That value was over $2 Trillion. If this market were completely erased from existence, almost nothing would change about the world, except we'd need to find something more meaningful to believe in. All that energy that has been spent in crypto communities (much if it actually positive energy) can easily go elsewhere.
This is not meant as financial advice. This represents my opinion, and so is meant for speculation and entertainment only. Over the summer, I plan to finally transition to YouTube for video content. So that’s something to look forward to!
-Victor Cobra