Bitcoin dominance (#BTC.D) has fallen off a cliff: down almost 9% in 11 days, from 61.5% to 56%. That's a seriously rapid shift given its sizeable market cap ($1.9T).
This is traditionally the point in the cycle where many altcoins go parabolic, as capital rotates into higher risk, lower cap plays.
We've definitely seen early signs of that 'banana zone' side of things -- with XRP up 115% in the last 7 days, for example.
Only this time, capital isn't rotating out of BTC in the same way -- much of it is fresh skin in the game. Total market cap of the digital asset space is up over $1.2T since the beginning of November. And on the BTC front, MSTR and ETF inflows aren't slowing down either. Indeed, there are no present signs bitcoin is anywhere near the top -- in my opinion it's just getting started.
It's going to be really interesting to see what happens this cycle -- the first cycle with institutional money and emerging regulatory frameworks.
This is traditionally the point in the cycle where many altcoins go parabolic, as capital rotates into higher risk, lower cap plays.
We've definitely seen early signs of that 'banana zone' side of things -- with XRP up 115% in the last 7 days, for example.
Only this time, capital isn't rotating out of BTC in the same way -- much of it is fresh skin in the game. Total market cap of the digital asset space is up over $1.2T since the beginning of November. And on the BTC front, MSTR and ETF inflows aren't slowing down either. Indeed, there are no present signs bitcoin is anywhere near the top -- in my opinion it's just getting started.
It's going to be really interesting to see what happens this cycle -- the first cycle with institutional money and emerging regulatory frameworks.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.