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Crowded trade? Retail hasn’t been this long on BTC, ETH, SOL, XRP in over a year

December 29, 2023


The cryptocurrency market’s capitalization metric has been trading within a relatively narrow upward channel for the past 10 weeks. This indicates that bullish momentum has remained intact despite recently failing to break above the $1.7-trillion market cap resistance.

In December, Bitcoin’s price made 20-month highs above $44,000, and Ether’s upswing was stropped at $2,400. Some analysts argue that the excessive demand for leveraged longs (buying) will trigger a correction, but is that really the case?

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