One of the highlights of 2024, especially at the end of the year, has been the poor stock market, with gains coming from just a few companies.
It turns out that a similar scenario is playing out in crypto markets as well.
Lago Brian, author of Substack Quant (h)Edge, calculated the size of the crypto market by looking at 10,000 coins listed on CoinMarketCap. As of December 23, approximately 24% of coins were above their 50-day moving average, 33% were above their 100-day average, and 28% were above their 200-day average.
This is despite a spectacular year for the largest cryptocurrency, bitcoin.
