$BTC is dominating the spotlight while altcoin are still struggling to find their rhythm. The current market feel both familiar and strange Retail investor once the heart of every bull run have stepped back, giving way to the cold, hard money from spot ETF.
š¹ The Altcoin Season Index show that only 4 out of the top 55 altcoin have outperformed BTC in the past 60 days, far below the necessary 75% threshold.
Most major altcoin are closely correlated 0.7-0.9 with BTC. This mean Bitcoin remain the sole conductor orchestrating the trend altcoin are merely reacting, not leading.
šø Data from analyst Darkfost indicates a significant decline in retail investor activity.
This group only sent 411 BTC to Binance, a significant drop from the 2,675 BTC during the FTX panic at the end of 2022.
Even in the ETF era, this group inflow have decreased by over 60%, sliding from 1,056 BTC after the ETF launch to it lowest point on December 9th.
Instead of FOMO fear of missing out at the peak, mainstream investor seem to be opting for the safety and simplicity of ETF, making the market more stable but lacking the explosive emotional surge.
š¹ $BTC is trading around $90,196, stuck below all key moving averages (EMA):
20-day EMA: $91,315
50-day EMA: $96,902
100-day EMA: $102,323 The RSI indicator shows weak demand and the CMF (0.07) indicates very modest inflow. Until BTC reclaims at least the 20-day EMA, bullish sentiment will remain weak.
The market is waiting for a new catalyst. Bitcoin is holding it ground but unable to move forward.
In your opinion, is the absence of retail FOMO a sign of maturity or a sign that the market is losing it natural upward momentum?
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