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CryptoBusy
@CryptoBusy
Crypto Educators & Market Analyst | #Bitcoin# Trader Since 2017 | Early-Stage Alpha Hunter: RWA, AI, DePIN, L1/L2, Web3 Gaming
Joined March 2018
2.3K Following    186.9K Followers
Altcoins are moving higher without excessive leverage. That makes the $TOTAL3 chart even more interesting. The market cap of crypto excluding bitcoin:native and ethereum:native is testing the $777B–$800B resistance zone. A confirmed weekly breakout and hold above this area would be strong news for altcoins.
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Altcoins are moving higher, but traders are not borrowing heavily to chase the move yet. Glassnode tracks how much leveraged money is being used to trade altcoins compared with Bitcoin. Historically, when altcoin leverage gets close to Bitcoin’s level, the market becomes more vulnerable to large liquidations and sharp price drops. We’re not there yet. Altcoin leverage remains well below that level, suggesting the current market is not yet overcrowded with leveraged positions. If altcoin prices continue rising while leverage stays controlled, there may still be room for the move to develop. The key signal to watch next: whether leverage starts rising much faster than prices. Source: @glassnode
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