The altcoin market faces stagnation as traders prioritize short-term gains over long-term value, according to Syncracy Capital co-founder Daniel Cheung.
Cheung highlighted on Dec. 28 that heightened volatility stems from a shift in trading behavior, with many adopting high-frequency strategies to time entries and exits.
The total cryptocurrency market cap excluding Bitcoin (BTC) and Ethereum (ETH), known as TOTAL3, sits at $965.15 billion, according to TradingView data. It has risen 92.13% year-to-date but remains 16% below its 2021 all-time high of $1.13 trillion.
Traders Monitor Choppy Market
Pseudonymous trader Daan Crypto Trades identified the $840 billion to $1.1 trillion range as a critical zone. “As long as this trades between ~$840B and ~$1.1T, I think it will be choppy,” Daan said in a Dec. 28 post on X. A drop below $800 billion could signal increased caution.
Source: X
The TOTAL3 cap needs to breach its 2021 high to trigger the “euphoria” phase, Daan
We współpracy z: https://www.thecoinrepublic.com/2024/12/29/short-term-thinking-stalls-altcoin-breakouts-warns-syncracy-ceo/
