In this upward run in the crypto market, it’s no longer a single-track行情 that’s “only about Bitcoin.”
According to BlockBeats, citing HTX market data, the total market capitalization of the crypto market surged 5.4% over the past 24 hours, reclaiming the $3 trillion mark. It is now reported at $3.042 trillion. Bitcoin briefly broke through $87,000 and is currently at $86,400. Ethereum has broken above $2,800 and is currently at $2,774. The total market cap of altcoins rose from $1.03 trillion to $1.17 trillion over nearly a week, an increase of more than 13.5%.
From the market tape, this looks more like the spread that follows a rebound in risk appetite: capital has started flowing into higher-beta sectors, rather than only focusing on BTC. Another observation is that after a continuous rally, chase-buying crowding is also rising, which may mean larger short-term volatility. Which do you care about more: whether BTC can hold steady above $87,000, or whether deal flow and support during altcoin pullbacks are more critical?
Figure 1: Crypto total market cap rebounds to $3 trillion · Source page partial screenshot
Image source: https://www.theblockbeats.info/flash/368314
According to BlockBeats, citing HTX market data, the total market capitalization of the crypto market surged 5.4% over the past 24 hours, reclaiming the $3 trillion mark. It is now reported at $3.042 trillion. Bitcoin briefly broke through $87,000 and is currently at $86,400. Ethereum has broken above $2,800 and is currently at $2,774. The total market cap of altcoins rose from $1.03 trillion to $1.17 trillion over nearly a week, an increase of more than 13.5%.
From the market tape, this looks more like the spread that follows a rebound in risk appetite: capital has started flowing into higher-beta sectors, rather than only focusing on BTC. Another observation is that after a continuous rally, chase-buying crowding is also rising, which may mean larger short-term volatility. Which do you care about more: whether BTC can hold steady above $87,000, or whether deal flow and support during altcoin pullbacks are more critical?
Figure 1: Crypto total market cap rebounds to $3 trillion · Source page partial screenshot
Image source: https://www.theblockbeats.info/flash/368314
