After the recent corrections of the crypto market, the bullish feeling of investors and market observers seems to have decreased, many saying that the summit is in it. However, other analysts point out that several indicators do not yet report a cycle peak, suggesting that the bull still has gas in its tank.
The market capitalization of the crypto resets the key level
The cryptography market has recently undergone continuous corrections that have interrupted the momentum of the post-American elections. During the November-December gathering, the industry reached numerous milestones, including Bitcoin rupture compared to the $ 100,000 barrier for the first time in history.
The cryptography market also exceeded its top of all time in 2021 (ATH), reaching a market capitalization of 3.73 billions of dollars on December 17, 2024. Nevertheless, its recent Shakeout sent the market capitalization of total cryptography (Total) to its lowest range in almost three months.
On Monday, the market retraced the $ 2.8 billion bar, briefly losing the level of key support of 3 billions of dollars before rebounding. The Crypto Daan Crypto professions stressed that the total graph retested the ATH 2021 during the decline, transforming the weekly candle “into a fairly interesting candle”.
The merchant explained that the 3 -dollars billion mark is crucial to advance despite the graph showing “a lot of request for the time”. Meanwhile, the 3.7 -dollars’ billion bar remains the level of key resistance, because it is “which is higher more to expansion”.
Daan also noted that the market capitalization of Altcoins, which excludes Bitcoin and Ethereum, swept the heights of 2024 and bouncing after having briefly lost its current scope during market correction, which could suggest that the so altitude season Expected is still in advance.
He stressed that altcoins could continue to move laterally in their current range, but an escape could see them test the summits of December, because they have not yet broken their 2021 ATH.
Top to cycle to come in the fourth quarter?
Analyst SJUUL D’ALTCRYPTOGEMS shared an analysis of the graph of the total cryptography market. The analyst said he did not see the “warning signs” that other investors and market observers mentioned online.
From a technical point of view, the cryptography market rally is a “situation of support and simple resistance” since the reversal of the ATH level of 2021, which the market is currently holding.
Sjuul compared this cycle to the previous one, declaring that it is technically the beginning of the “real Bull Run”. In time, the graph has various similarities between the two cycles, which suggests that the summit is around 230 days.
He explains that the rupture of 2021 compared to the summit of the previous cycle occurred 1,120 days from the 2017 ATH. In addition, the top of cycle 2021 occurred 1,400 days after the peak of 2017.
Meanwhile, the rupture of this ATH 2021 cycle occurred approximately 1,120 days after the summit, similar to the last cycle. If history is repeated, the timing of this cycle suggests that the top of the Crypto market is about 7 to 9 months.
In the end, the analyst projected that the market peak occurred in the fourth quarter of 2025 and potentially reached a market capitalization of 4.5 billions of dollars.
