In recent months, Altcoins direction In the encryption markets, a period of great distress was distinguished.
However, for some days now, it seems that at least this period has ended, even if no positive one starts clearly.
However, it is possible to mention that a small part of the losses have been recovered from the past weeks, with a mini -microborn.
Total 3: Performance trend index of altcoins
For a general idea of Altcoins, it is recommended to analyze the daily differences of the so -called Total3Total market value for encryption, however With the exception of Bitcoin, Ethereum and the main stablecoins.
We must remember that DualismR.currency It only represents more than 60 % of the entire encryption market formation, and if added ethereumfor USDT and USDC It exceeds 75 %. This means that altcoins as a complete calculation of less than a quarter of the entire encryption market.
The highest level ever Total3 It was reached in December, above $ 1.160 billion. It should be noted that the highest level in 2021 was 1.130 billion, so between November and December altcoin Only a whole has returned to their highest historical levels, without greatly outperforming them.
As of January 18, Total3 was still above 1.100 billion dollarsAlthough it has already decreased to less than 900 marks in the second half of December.
All this actually drew a picture that was not particularly optimistic, except in the short term.
The real problem reached at the beginning of February, because in just three days it decreased from more than 1,000 billion to less than 750. However, this decrease seemed only temporarily, because it was followed by a rapid recovery, but in the second half of February, another decline was followed by wiping all the gains from the apostasy.
A little rest to Altcoins
After a decrease again less than 760 billion dollars on February 28, with March Total3 A test New recovery.
The current is a little slower than those in the beginning of February, and it happens in an atmosphere that appears less dark than before.
Moreover, on Monday Total3 It has already returned to above 900 billion dollars, just to drop to less than $ 780 billion the next day. This last decline was also followed by a recovery, so there have been three rebounds in the past five weeks.
Note that the encryption market tends to follow the direction of bitcoin, especially in its most challenging stages, and BTC price In turn, it tends to be inversely linked The dollar index.
Well, the dollar index has decreased since mid -January, to the point that it decreased much less than 105 yesterday for the first time since Trump’s electoral victory in early November.
Bitcoin season
However, to say the truth, since February 24, the entire encryption market has entered the so -called Bitcoin season, which is unlike altseason.
according to Altseason Index in CMCThe current value is 14 points, much lower than the threshold of 25 points that starts the bitcoin season. It is clear that the 75 -point threshold that Altseass begins is currently very far.
However, it should not be forgotten that the bull is often born in the encryption market in the middle of the bitcoin season, because it is often the direction of the BTC price that provokes it.
In the second half of November, as soon as it is a price Bitcoin It rose to 90,000 dollars, and started a small season, as it lasted slightly over two weeks later, and concluded in early December. Since then, Altcoins has stopped the superiority of Bitcoin in general, and in less than three weeks, the Altseason index returned to about 50 points.
So, already in December, Bullrun of Altcoins ended, and starts from February, perhaps there was an inevitable decline.
The role of Ethereum (ETH) in this course
In addition to the main Bitcoin and Stablecoins, ethereumHe is the main altcoinTotal3 is also excluded.
Note that if Total3 has a current value of about $ 860 billion, ethereum Only 275 billion benefits from 275 billion, which is about a third of all other encryptions combined. Bitcoin, on the other hand, benefits 1,800 billion, much more than Ethereum and Total3 combined.
This explains how the role Ethereum as the main altcoin It has decreased over time, while on the other hand, it explains how the Bitcoin encryption market is still dominated.
It turns out that the ETH price is much worse compared to a total of 3.
In fact, although the current level of a total of 3 remains much higher than 630 billion dollars in October, the ETHEREM price also decreased to at least $ 2300 of this month.
After height to $ 4100 in December, it decreased for the first time to about 3300 dollars, then at the beginning of February he returned to October levels, then at the end of February, he decreased to $ 2000. This is the lowest point since November 2023, and was reached last Tuesday.
What seems to be more weighing on the direction of ETHEREUM price is the large consequences of liquidation in August by Grayscale, when she turned her box to ETF and managed to liquidate the huge amount of ETH accumulated during the Grand Taurus in 2021.
Just keep in mind that before the stock market appeared in that ETF, which occurred in July 2024, the ETHEREM price fluctuated between $ 3,000 and $ 3500, while decreased after appearing to $ 2100 in only three weeks.
After that, she managed to reach more than $ 2,500 in October, but in December she failed to approach her highest levels in 2021.
