The chart Sykodelic shared places the OTHERS index, which tracks the total market capitalization of cryptocurrencies outside the top ten, alongside two macro indicators: the Federal Reserve Net Liquidity and the Purchasing Managers’ Index (PMI). The interesting thing is that those three have always moved in the same direction.
During the 2020/2021 cycle, for example, all three moved in the same direction. The Fed Net Liquidity rose very fast, PMI was in expansion, and the OTHERS index increased from a market cap below $100 billion to almost $600 billion.
The Setup For An AltSeason May Finally Be Forming
