$BTC
BTC, retail investors watch the price movements of “the big cake” all day, thinking this whole pool of capital always keeps circling around the leading names. They believe that as long as someone pumps, the whole market will monopolize the liquidity.
But Glassnode’s data is right in front of us: during the August rally, altcoins were well-behaved and simply stayed put, while only BTC was rising. Yet today, the market structure has flipped—altcoin cycle signals have shifted away from the “big cake,” and the entire sector has turned hot across the board.
Once this structure switches, those big funds and speculators that had been hiding in the “big cake” order book are forced to go find a lifeline in the altcoin market. The BTC “bloodsucking” effect from within its own pool is directly undermined by the way this money reallocates.
If, in the next phase of the market, altcoin trading activity can’t pick up and sustain the momentum from this rotation—and instead causes big capital to turn back and flow into the “big cake” again—then the logic behind this cycle-signal reversal would fail outright
BTC, retail investors watch the price movements of “the big cake” all day, thinking this whole pool of capital always keeps circling around the leading names. They believe that as long as someone pumps, the whole market will monopolize the liquidity.
But Glassnode’s data is right in front of us: during the August rally, altcoins were well-behaved and simply stayed put, while only BTC was rising. Yet today, the market structure has flipped—altcoin cycle signals have shifted away from the “big cake,” and the entire sector has turned hot across the board.
Once this structure switches, those big funds and speculators that had been hiding in the “big cake” order book are forced to go find a lifeline in the altcoin market. The BTC “bloodsucking” effect from within its own pool is directly undermined by the way this money reallocates.
If, in the next phase of the market, altcoin trading activity can’t pick up and sustain the momentum from this rotation—and instead causes big capital to turn back and flow into the “big cake” again—then the logic behind this cycle-signal reversal would fail outright
