Momentum Short-term Cap is my experimental metric, which is calculated as a ratio based on the difference between Market Cap and Realized Cap divided by the total Realized Cap of the short-term cohorts.
The difference between the Market Cap and Realized Cap is important, as it allows one to show the degree of change in the asset's value over short-term periods.
Therefore, with a relatively high degree of accuracy, this ratio shows the peaks where the price reaches the hottest threshold of the short-term cohort's market cap momentum (less than six months).
At present, the ratio value has recovered back to the WARM phase; however, less favorable conditions in terms of impact psychology and slow changes in macro conditions are promoting slow momentum.
Time is still allowed, and once the macro factors stabilize or show positive shifts, the momentum will quickly return to the hot threshold. This will probably be the final top of this cycle.
Written by BinhDang
