OVERVIEW

Stocktwits Crypto Data Dive - Week 41

Welcome to the Stocktwits Crypto Data Dive for Week 41 of 2025! 📊

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 41 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: +23%

• From ATH: -5%

Altcoin Market Cap

• All-Time High: $1.73 trillion

• YTD: +17%

• From ATH: -7%

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
Total Market Cap (TMC) Performance For 2025

CRYPTO
Crypto Index Performance For 2025

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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.

• September 21 - the outlier. Roughly $3.0B in long liquidations in a single day. True cascade.

• September 24 - the aftershock. About $900M - $1.1B more longs flushed.

• September 11 - the big short day in this window. Around $450 - 600M red as price ripped.

• September 13 - 15 - moderate long prints ($250 - 450M total) while BTC stalled.

• September 29 - October 1 - shorts hit again ($150 - 300M per day) on pop attempts.

7-day Liquidation Heat Map 🌡️

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.

• October 3 - 4 - BTC and ETH run yellow → orange multiple times; SOL pops hot early; DOGE follows one notch cooler.

• October 6 - 7 - repeated orange on ETH; BTC stays mostly yellow. Rotation is obvious on the row stack.

• October 8 - 9 - another broad surge: BTC/ETH orange again; several L1s echo in yellow 1 - 3 hours later.

• Persistent one-offs - ASTER and COAI show long orange bands (product-specific flows). XPL has clustered yellow bursts. ZEC flashes yellow on Oct 9.

Some Interesting Insights 👓️ 

• Two prints ran the show: Sep 21 ($3.0B) and Sep 24 ($1.0B) were long-side massacres. The rest of the month was small-ball.

• Shorts only had moments: Sep 11 plus Sep 29 - Oct 1. Everything else leaned against over-longed perp books.

• Heatmap agrees: multiple BTC/ETH yellow→orange runs this week = thousands of accounts per hour getting clipped. Rotation (ETH hotter than BTC on Oct 6 - 7) mattered.

• Same rule that keeps paying: any day > $600M liquidated or any hour > 1,500 head-count tends to be followed by a hard counter-move inside 24 - 48 hours.

• Process tip: when BTC or ETH rows flip yellow, cut alt risk or tighten stops immediately. The lag showed up again this week.

HEATMAP
One-Week Crypto Heat Map 🌡️ 

One-Month Crypto Heat Map 📆 

Quarterly Crypto Heat Map 📫️

YTD Heat Map 🗺️

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Author Disclosure: The author of this newsletter holds positions in ADA, IMX, COPI, MIN, AGIX, ALGO, ZEC, XLM, and NEAR. 📋