A big coin (BTC) touched 81,000, don’t mistake it for a broad-based rally
The easiest place to misread today is to take BTC’s move and the 73 “greed index” as if they were a sign of a broad market uptrend. In reality, more than 60% of coins are falling.
BTC is at $79,885, up 1.39% over the past 24 hours. It even briefly pushed above 81,000 during the day. But if you pull out 735 trading pairs and count them, only 37.6% are up. The median move in the up/down distribution is -0.17%. More than half of the coins aren’t just not up—they’re still grinding lower.
Among the top 50 by volume, seven out of ten are rising, and the money is clearly stacking on the big names.
At times like this, the Greed Index of 73 makes sense. This index mixes volatility, momentum, and social buzz. It answers whether sentiment is hot—not whether this is a broad-based rally. It has been sitting in the greed zone for a full week without moving, just as dull as the price. The sentiment index follows BTC, and it has nothing to do with your position.
Also, take a look at liquidation data. In the last 24 hours, BTC liquidations totaled $55.11 million. The shorts side accounted for $44.33 million, while longs were only a little over $10 million. With price up and shorts squeezed, it looks more like short-covering in a limited-liquidity game—not necessarily fresh money pouring in aggressively.
Next, I’ll watch the proportion of rising coins. If it returns to 60% or more, that would mean the rally is spreading, and the earlier “narrow breadth” view would have to be discarded. Until then, don’t use indices as a talisman to protect your position.
#Bitcoin
#Liquidations
#CryptoMarket
The easiest place to misread today is to take BTC’s move and the 73 “greed index” as if they were a sign of a broad market uptrend. In reality, more than 60% of coins are falling.
BTC is at $79,885, up 1.39% over the past 24 hours. It even briefly pushed above 81,000 during the day. But if you pull out 735 trading pairs and count them, only 37.6% are up. The median move in the up/down distribution is -0.17%. More than half of the coins aren’t just not up—they’re still grinding lower.
Among the top 50 by volume, seven out of ten are rising, and the money is clearly stacking on the big names.
At times like this, the Greed Index of 73 makes sense. This index mixes volatility, momentum, and social buzz. It answers whether sentiment is hot—not whether this is a broad-based rally. It has been sitting in the greed zone for a full week without moving, just as dull as the price. The sentiment index follows BTC, and it has nothing to do with your position.
Also, take a look at liquidation data. In the last 24 hours, BTC liquidations totaled $55.11 million. The shorts side accounted for $44.33 million, while longs were only a little over $10 million. With price up and shorts squeezed, it looks more like short-covering in a limited-liquidity game—not necessarily fresh money pouring in aggressively.
Next, I’ll watch the proportion of rising coins. If it returns to 60% or more, that would mean the rally is spreading, and the earlier “narrow breadth” view would have to be discarded. Until then, don’t use indices as a talisman to protect your position.
#Bitcoin
#Liquidations
#CryptoMarket
