Crypto Bull Rally: This Simple Indicator Says We're So Early

• This bull run's upside is massive, indicator says
• What can push TOTAL3 higher? Weiss Crypto, a cryptocurrency analysis agency and ranking platform, highlights the terrible underperformance of TOTAL3, the biggest altcoin cap indicator. To mirror previous rallies, it still needs to surge by orders of magnitude, even given current prices.

This bull run's upside is massive, indicator says

TOTAL3, an indicator of the aggregated capitalization of all cryptocurrencies, excluding Bitcoin (BTC) and Ethereum (ETH), is significantly lagging compared to previous bullish cycles. Today, it is only up by 150%, while Bitcoin (BTC) already set an array of price records in this run.

During previous bull cycles, the metric exceeded 4,000%, which indicated the full recovery of the altcoin market and the ending of the growth phase.

The underperformance of TOTAL3 might be attributed to a combination of catalysts in this cycle. First off, significant liquidity was injected into Bitcoin and Ethereum spot ETFs in the U.S., and, therefore, didn't find its way to crypto capitalization.

Then, because of poor performance of ETH, the entire altcoin market is in shadows this cycle. At the same time, the peak might not be reached yet.

As demonstrated by many macro models, the highest point of this bull run might be accomplished either in Q4, 2025, or Q1, 2026.

What can push TOTAL3 higher?

Normally, Bitcoin (BTC) and the entire cryptocurrency market capitalization registered new ATHs in the fourth quarter of post-halving years. This pattern worked in December 2017 and November 2021.

It is highly likely that the performance of TOTAL3 might see a boost from large-cap altcoins and biggest stablecoins. Commentators to the Weiss Crypto post hinted at Cardano (ADA) as a potential large-cap with big upside.

Also, regulated stablecoins like USDC might benefit from the adoption of the GENIUS Act in the U.S., and exchanges implementing MiCA regulation in Europe.