Sassal.eth 🎩⛽
@sassal.eth
General market thoughts
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0xen 🎩
@0xen
total crypto market cap tells another story though, MC near 2021 highs. there is a lot of new money sloshing around in the system.
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Sassal.eth 🎩⛽
@sassal.eth
Total crypto market cap (excluding stablecoins) is around $2.6 trillion BTC + ETH market cap is $1.8 trillion which is ~70% of the total cap We know that BTC has had a lot of inflows from ETFs (which is why it has been so strong). Ergo, new money has mostly just gone into BTC via ETFs.
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0xen 🎩
@0xen
retail is back unless i'm missing something - they're just not buying last cycles coins
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Sassal.eth 🎩⛽
@sassal.eth
As I explained, this is just crypto natives rotating out of BTC and ETH into other things Just look at BTC dominance alone - it looks *nothing* like H1 2021 which was the last retail-led bull market
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0xen 🎩
@0xen
this chart doesn't really show that though, that insiders are just playing alts now. it could mean lots of things. the simplest and most likely is that retail just isn't that dazzled by Bitcoin anymore.
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Sassal.eth 🎩⛽
@sassal.eth
If retail wasn't that dazzled by Bitcoin anymore then you would see BTC dominance crater like it did in H1 2021 (when retail was actually here). My good sir you just proved my point lol.
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0xen 🎩
@0xen
My good sir! It shan't crater the same as before because unike ye olden times BTC dominance did not come back in the bear. There was nothing to crater! Study the chart! Retail doesn't care about Bitcoin anymore. At least those under the age of 60.
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Sassal.eth 🎩⛽
@sassal.eth
Let's revisit at the end of the year ;)
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