When the price of BTC rises to 91,000, the total market value of the entire cryptocurrency market is 3.363 trillion.
But when it rises to 97,000, the total market value actually decreases by 100 billion, dropping to 3.3244 trillion.
What does this indicate?
It indicates that at the 90,000 mark, many big players are eager to cash out and a large amount of funds have withdrawn. Now that BTC is surging upwards, it is actually siphoning off from those small altcoins, which are consequently suffering and continuously dropping. Because there is only this much capital, all of it is being absorbed by BTC, leaving no opportunity for small altcoins to rise.
For small altcoins to have a chance to rebound, BTC must stabilize first, allowing funds to flow towards small altcoins.
In this bull market, BTC is the only one jumping around, while other coins seem to be frozen. Those who chased after small altcoins at high prices must be feeling uneasy right now. If all the funds from BTC withdraw but do not flow into small altcoins, this bull market will have nothing to do with small altcoins. They weren’t included during the rise, and won’t escape during the fall.
I’ve long said that if small altcoins are about to rise significantly, it’s best to reduce positions quickly, at least set a trailing stop loss, so as not to lose everything later.
Recently, I plan to position myself in a potential coin that is ready to explode; doubling is quite simple. I am also looking for some potential coins to hold until the end of the year, with an expected space of over 10 times being feasible. If you want to keep up, like + leave a message for free sharing.
