Yo the altcoin vibe is straight up ready to twist into something wild after those major gauges just shattered year long downtrends fr fr 🖤 Matthew Hyland’s charts got smaller cryptos stacking gains vs bitcoin and the usual risk plays tho rising leverage means a nasty pullback could pop outta nowhere. 🌙
Altcoin gauges shatter endless slumps 🔪
in a fresh post from september 7 he dropped that eth total 2 total 3 plus others all locked in the end of their long slumps via higher highs let’s unpack it quick 🦇 total 2 watches altcoins minus bitcoin while total 3 skips both btc and ethereum others cuts out the top 10 so it zooms on tinier tokens 💀 he wondered if these were just a bear market pump then came back with way more bullish takes in another post where he wrote the largest altcoin bull run of all time is loading and it might eclipse 2020 to 2021 based off that others d spx chart. 🎀
Leverage sneaks in extra heat 🕸️
the ratio’s been slipping for years after peaking in the 2017 to 2018 ico era and now it sits near the bottom of that slide with an oscillator oversold around 20 to 30 compared to the 80 overbought back in 2017 👁️ it does not confirm a fresh alt cycle started yet but it backs why this watcher sees strength ahead for tiny tokens theres already hints of bigger trading flow altcoin perp futures open interest just overtook bitcoins for the first time since december 2024 per coinalyze data that shift pushed altcoins outside top 10 to a combined 213 billion market cap which is nearly 12 percent higher since september kicked off zcash went crazy climbing past 1200 bucks up 370 percent from early june lows its market cap topped 20 billion ahead of hyperliquid and doge which both jumped over 11 percent in 24 hours doge itself and bnb flexed hard too with doge up 12 percent from its friday low to 0.094 while bnb neared 780 its peak since early february but watch out zec perp futures open interest hit 2.7 billion and the move above 1200 sparked 24 million in liquidations over the last day with more than 17 million hitting shorts so these derivative flips have often signaled mid cap corrections right around the corner two signals clash here the altcoin breadth is getting wider and long term charts broke higher but leverage is stacking fast still hyland reads the first part as proof we’re sliding into a huge altcoin phase.
Just another echo from the void by iconofsin.eth 💖
