The total market cap of crypto is above $1 trillion, is reclaiming the 200 week moving average, and has recovered all the losses since the FTX fall and then some
2 min read
One of the key charts in crypto is the total market cap. I would argue this is the most important chart in crypto, while also one of the most overlooked ones.
Total crypto market cap: 200 week moving average
In the past, we dipped below the 200 week average briefly for a brief moment but we always quickly always reclaimed it, like back at the low of the bear market of 2018 and back during the COVID fall. At the start of October 2022, we once again fell below the 200 week moving average, but quickly reclaimed it.
However, shortly after, during the fall of FTX, we did something we had never done before, stay below this key moving average for 2 months (9 weeks).
Now, after the recent pump, if we close like this at the end of this weekend, it looks likely that we finally successfully reclaimed it. So fingers crossed for no dump on Sunday.
Bitcoin weekly, with 200 moving average as purple line
Total crypto market cap: Above a trillion + recovered the FTX losses and then some
In the process, the market cap of Crypto is now above a trillion again.
Even better, the market cap is higher than at the start of the fall of FTX!
Next up: 200 week moving average of the Bitcoin chart
However, we are approaching the key resistance of the 200 week moving average of the Bitcoin chart…
… but we did already break through the 200 week moving average on the Ethereum chart!
submitted by /u/Beyonderr
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