OVERVIEW

Stocktwits Crypto Data Dive - Week 28

Welcome to the Stocktwits Crypto Data Dive for Week 28 of 2026! 📊

In this issue, we'll dive into the data to keep you informed about the progress of the overall crypto market and shine a spotlight on emerging and established trends.

What You’ll Find In The Stocktwits Crypto Data Dive has three main objectives:

1. Total and Altcoin caps, stamped with YTD moves and the gap to ATH.

2. Seven-layer market-cap recap (TMC ex-stables, ex-top-50, and five more flavors).

3. Crypto Index Performance covering 12 indices.

4. The Liquidation Station boards the train with 30-day totals plus a 7-day heatmap for maximum schadenfreude.

5. Market Heatmap, Social Volume Heatmap, Active Address Heatmap.

6. ETF scorecards for BTC and ETH still tracking 7- and 30-day flows.

So, without further delay, let's jump right into the data from week 28 and explore its intriguing insights! 🚀

CRYPTO
Crypto Market Cap Update

What is the broader trend within the crypto market? The simplest way to track this is by using three market cap charts. So let's see what we got. 🔭

*the price levels and performance values may be very different from what you read in your mailbox vs. what's happening in the live market. This is especially true when crypto faces a new bull or bear run. 

Total Market Cap

• All-Time High Close: $4.22 trillion

• YTD: -28%

• From ATH: -49%

Altcoin Market Cap

• All-Time High: $1.73 trillion

• YTD: -27%

• From ATH: -49%

CRYPTOTWITS
Missed An Issue This Week? I Got Ya Right Here 👇️

Here’s this week’s Cryptotwits newsletters. That you probably read already. Maybe. Probably.

Monday - Gains Had The Shelf Life Of A Sparkler 🎇

Tuesday - Turns Out 'Data Center' Is Just 'Bitcoin Miner' With A Better Credit Score 🧠

Wednesday - Tom Lee Says It's A Bottom. Tom Lee Always Says It's A Bottom 🤦

Thursday - The Banks Would Like Their Cross-Border Business Back, Please 😐️

Friday - Crypto Feels Like A Patient That Can Eat Solid Food Again 🍴

CRYPTO
Stocktwits Crypto Index RRG

Relative Rotation Graphs (RRG) help us visualize how a currency or sector performs compared to a benchmark - in this case, the U.S. Dollar Index (DXY). Think of the four colored sectors as stages in a race:

• Leading Quadrant (green) - You're a champ! 🏆 You're ahead of everyone else, and the crowd is cheering. But watch out; you might be overdoing it.

• Weakening Quadrant (yellow) - You're slowing down 😓 and losing your lead. Maybe you're a bit demoralized because your biggest fan didn't show up. You're now in the middle of the pack.

• Lagging Quadrant (red) - Disaster strikes! 😱 You're injured, exhausted, or just made a big mistake. You're now in last place, and it's a sad scene.

• Improving Quadrant (blue) - Time for a comeback! 💪 Your motivation returns, the music swells, and you're picking up speed. You're back in the middle, catching up with the leaders.

Analyzing the RRG Examples 

Example 1: Rapid Rotation
- If an instrument moves quickly through all four quadrants, it could indicate high volatility or erratic behavior. Traders may want to be cautious or use appropriate risk management strategies in such cases.

Example 2: Stuck in the Middle
- An instrument that remains close to the center of the RRG might be in a consolidation phase, lacking a clear trend or momentum. Traders might wait for a decisive move before entering a position.

Example 3: Consistent Leader
- If an instrument stays in the Leading Quadrant (top right) for an extended period, it could signify a strong, sustained uptrend. Traders might consider buying opportunities or riding the trend.

Example 4: Slow Recovery
- An instrument that gradually moves from the Lagging Quadrant (bottom left) to the Improving Quadrant (blue) and eventually to the Leading Quadrant (green) could indicate a slow but steady recovery. Traders might look for potential reversal or bottom-fishing opportunities.

The GIF below shows the past 21 days of movement on the RRG.

The GIF below shows the past 13 weeks of movement on the RRG.

CRYPTO
Weekly Total Market Cap (TMC) Performance

CRYPTO
Weekly Crypto Index Performance

CRYPTO
Liquidation Station 😱 

Interested in how much has been flushed out of leveraged long and short positions? Who’s getting hurt the most? This is the best place to get an idea of how leveraged positions are doing. 🔴 

30-day Total Liquidations 📆 

What You’re Looking At

• Green bars above zero = longs blown out because price fell.

• Red bars below zero = shorts blown out because price ripped.

• Left-hand scale is U.S. dollars (millions); the dashed line near the top sits at $1B.

• June 14 - Shorts take one of the first meaningful hits, around $300M, as BTC holds near the upper part of the range.

• June 16 - June 17 - Long liquidations ramp into the $350M-$400M area while price starts losing altitude. Early warning. Naturally ignored.

• June 22 - June 24 - The main long-side wipe. Long liquidations surge from roughly $500M to a peak near $750M-$800M, then stay elevated above $600M as BTC breaks lower.

• June 30 - July 1 - Shorts finally get squeezed for roughly $300M-$350M as BTC stabilizes and bounces off the lows.

• July 5 - July 7 - Short liquidations flare again around $300M+, followed by a smaller long-side response near $250M-$300M as the market chops instead of choosing a side like a functioning adult.

• July 8 - July 10 - Liquidations cool into smaller two-sided bars, suggesting the worst of the forced unwind had already passed.

Quick read

What You’re Looking At

• Rows = coins, columns = timestamps.

• Color = head-count of forced liquidations (legend tops at 2,000).

• A cell showing “BTC 1,600” means 1,600 separate BTC positions were liquidated.

• July 3 20:00 - BTC, ETH, and SOL start hot right away, with majors driving the first liquidation wave.

• July 4 12:00 - BTC and ETH remain elevated, while SOL and a few secondary rows push into stronger green/yellow territory.

• July 5 20:00 - Broad heat develops across BTC, ETH, SOL, and parts of the alt stack, with LIT and WLD also showing stronger counts.

• July 6 12:00 - One of the busier windows: BTC and ETH stay hot, SOL joins, and ZEC/SPCX/MU show noticeable liquidation activity.

• July 7 04:00 - July 8 12:00 - Sustained majors-led heat. BTC/ETH repeatedly hit yellow/orange, with SOL and several mid-cap rows following.

• July 9 20:00 - July 10 12:00 - Late-week heat persists in BTC/ETH/SOL, then starts cooling into the final column.

Some Interesting Insights 👓️ 

• Both sides got cleaned out, but the sequence matters: longs were the main casualty in late June, then shorts paid during the early-July bounce.

• Liquidation participation stayed elevated into July, but the notional chart shows intensity cooling after the June 22 - June 24 long wipe.

• The heat-map confirms BTC and ETH still set the timing. Alts mostly wait for majors to make the mistake first, then join the group project.

• No clear headline catalyst is visible from the charts, so the read stays mechanical: price break, crowded longs flush, relief bounce squeezes shorts.

• Early-warning rule: when BTC price rolls over while green bars expand and BTC/ETH heat-map rows stay orange, assume leverage is driving the move until proven otherwise.

Get In Touch 📬

Email me, Jonathan Morgan, feedback; I’d love to hear from you. 📧
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Author Disclosure: The author of this newsletter holds positions in AVAX, ADA, PUDGY, WLD, NEAR, INJ, LTC, LINK, ZEC, XLM, and FET. 📋