On the cryptocurrency market stage on November 21, BTC still has the halo of the protagonist tightly wrapped around it, shining alone like a bright star. As for the altcoin camp, although the situation is not optimistic, it is by no means dark, and there is still a glimmer of hope.
A detailed analysis of today's market data shows that the expansion of market capitalization, the increase in market share, and the increase in trading volume are all centered around BTC.
In this round of price increases, ETH has managed to hold its ground, and its market share has not fallen significantly, barely maintaining the current situation.
On the other hand, altcoins are not so lucky. Their market share has once again been ruthlessly "drained" by BTC, and funds have flowed into BTC.
As far as the current situation is concerned, the situation of altcoins is indeed not optimistic. The market share has been largely eroded by BTC, and investors' risk appetite has also decreased accordingly.
However, after comprehensively comparing today's data with yesterday's, we will find that the decline in the market value of altcoins is actually not significant.
This means that although they have not been able to keep up with the rise of BTC, they have not experienced a significant decline. The overall situation can be said to be gloomy, but not in a desperate situation, and there is still a possibility of turning around.
Focusing on the flow of funds, market funds are still showing a positive influx trend. Here is a detailed record:
The retained funds in the market gathered like small trickles into a river, and climbed again to US$190.3 billion.
As for USDT, according to the data published on its official website, its market value has reached 130.151 billion.
Compared with yesterday, there was another 1.384 billion in net inflows, and trading volume also maintained steady growth, up 3% year-on-year, with active trading volume remaining stable at around 130 billion.
USDC's data is also worth noting. The data URL shows that its market value has increased by 232 million.
Although the scale of capital inflow is not as huge as that of the Asian and European markets, the capital inflow from the United States has clearly demonstrated a positive attitude thanks to the important channel of ETF, and the year-on-year increase in capital activity is as high as 13%.
To sum up, it is a bold prediction that if BTC successfully reaches the $100,000 mark this week, and then can reasonably fall back and stabilize, then altcoins and ETH may usher in a rare opportunity over the weekend.
Comparing with yesterday's data, we can find that the situation of altcoins has improved slightly compared to yesterday. Let us wait and see whether this glimmer of hope can illuminate their way forward.