New ratio chart: $TOTAL2/$BTC

Today we are looking at a new ratio chart where we plot the TOTAL2 (Crypto market cap without Bitcoin) vs BTC market cap. As we see from the chart the ratio chart as we see is making lower lows and lower highs. ALTCOINS are bleeding against the BTC in this Crypto market cycle. The long-awaited ALTCOIN rally is still missing in this crypto market cycle.

With US10Y holding onto the 4.5% level there is very little respite from the pressure on the ALTCOIN market. The recent meltdown of the meme coin market is also adding pain to the $CRYPTOCAP:TOATAL2 Market cap.

If we plot the Fib retracement level from the top to the bottom in the ratio chart, then we see that the chart is @ 0.236 level. The chart pattern is not bullish, and it is still below the 0.236 Fib level. The chart is bearish and maybe the Ratio TOTAL2 / BTC touches 0.36. May be by then the BTC.D @ 66% as predicted in my blog on 9th Feb 2025.