OVERVIEW
Stocktwits Crypto Data Dive - Week 44
Welcome to the Stocktwits Crypto Data Dive for Week 44 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:
Total and Altcoin caps, stamped with YTD moves and the gap to ATH.
Seven-layer market-cap recap (TMC ex-stables, ex-top-50, and five more flavors).
Crypto Index Performance covering 12 indices.
The Liquidation Station boards the train with 30-day totals plus a 7-day heatmap for maximum schadenfreude.
Market Heatmap, Social Volume Heatmap, Active Address Heatmap.
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 44 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: -12%
From ATH: -39%
Click to enlarge.
Altcoin Market Cap
All-Time High: $1.73 trillion
YTD: -14%
From ATH: -41%
Click to enlarge.
CRYPTO
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 - Some Hearts Are Meant To Be Broken 💔
Tuesday - It's All Clocks And Clouds Today 📆
Wednesday - Pack Of Dogs Forms Corporate Structure 🐕🦺
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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.
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CRYPTO
Weekly Total Market Cap (TMC) Performance
Index | Value | Weekly Performance |
|---|---|---|
TMC Excluding BTC and ETH | $747B | -3% |
TMC Excluding BTC and Stablecoins | $744B | -5% |
TMC Excluding BTC, ETH, and Stablecoins | $469B | -5% |
TMC Excluding Stablecoins | $2.31T | -4% |
TMC Excluding Top 10 | $212B | -4% |
TMC Excluding Top 50 | $42B | -9% |
TMC Excluding Top 100 | $6.4B | -10% |
CRYPTO
Weekly Crypto Index Performance
Index | Weekly Performance |
|---|---|
AI | -13% |
Decentralized Finance | -8% |
Decentralized Physical Infrastructure | -8% |
Exchange Tokens | -2% |
Layer 1 | -4% |
Meme | -8% |
Proof-Of-Stake | -5% |
Proof-Of-Work | -4% |
Real World Asset Tokenization | -7% |
Rehypothecated | -4% |
Smart Contracts | -6% |
Stablecoins | -1% |
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.
30-day Total Crypto Liquidation Chart - Click to enlarge.
September 30 - October 1 - Early two-sided pressure, with shorts taking approximately $250M in liquidations on October 1. Long liquidations remain relatively contained.
October 6 - October 7 - The first major long-side purge. Roughly $650M in longs liquidated October 6, followed by approximately $1.055B on October 7, the largest single-day event of the month.
October 11 - October 14 - Another wave of long liquidations, including roughly $430M-$450M on October 11 and $650M on October 14. The first billion-dollar flush evidently failed to discourage anyone.
October 21 - October 23 - Long liquidations accelerate again, with several sessions approaching $400M-$470M. BTC remains relatively stable, suggesting leveraged positioning was under considerably more stress than the price chart alone indicated.
October 28 - The second-largest long liquidation event of the month, approaching $900M-$950M, as BTC weakens toward the upper-$70Ks.
October 29 - Another approximately $750M-$800M in longs liquidated. Across October 28-29, roughly $1.7B disappears from leveraged long positions. Apparently two consecutive trading sessions were necessary to make the point.
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.
Weekly Crypto Liquidation History Heatmap - Click to enlarge.
October 24 04:00 - BTC and ETH jump into orange territory, approaching the 2,000-trader ceiling. NEAR also shows one of its strongest spikes, while HYPE, XRP, ZEC, and DOGE register elevated counts. An energetic start to the week.
October 25 20:00 - October 26 04:00 - Another major BTC/ETH liquidation cluster appears. Both repeatedly push toward the upper color range, while SOL and several secondary names show increased activity.
October 27 04:00 - October 27 20:00 - Liquidation pressure persists across the majors, with another strong BTC/ETH burst. ZEC, SNDK, and several mid-cap rows register smaller increases, but the damage remains concentrated near the top.
October 28 12:00 - October 29 04:00 - BTC and ETH heat up again as monthly long-side liquidations begin their late-October acceleration. Several secondary names strengthen, although the most widespread activity is still ahead.
October 29 12:00 - October 29 20:00 - The broadest liquidation concentration of the week. BTC and ETH reach the 2,000-trader ceiling, while HYPE, XRP, ZEC, NEAR, DOGE, BNB, SNDK, SOXL, UNI, ENA, ADA, and WLD all register increased counts. One of those rare moments when practically every section of the market finds something unpleasant to contribute.
October 30 04:00 - October 30 12:00 - Liquidation activity begins cooling across the board. BTC and ETH remain active, while several secondary names retain moderate heat. The final column is considerably less intense than the October 29 concentration.
Some Interesting Insights 👓
The monthly chart is defined by October 7's approximately $1.055B long wipeout and the roughly $1.7B in combined long liquidations on October 28-29. The market delivered two major cleanup operations in the same month. Neither was particularly subtle.
The weekly heat-map shows liquidation participation increasing sharply into October 29, with BTC and ETH repeatedly reaching the 2,000-trader ceiling and stress spreading across a much broader collection of assets.
Both sides experienced forced exits, but the largest dollar losses were unmistakably concentrated in leveraged longs. The late-October decline exposed bullish positioning that remained vulnerable despite earlier liquidation events.
The divergence between BTC price movement and liquidation notional remains the most interesting feature. Bitcoin spent much of the month near $80K while hundreds of millions, and occasionally more than $1B, disappeared from leveraged positions.
No headline catalyst can be established from the screenshots. The visible relationship is between BTC price movement and derivatives liquidations, with the sharpest late-month stress coinciding across both charts.
The practical warning is straightforward: repeated $400M-$500M long-liquidation days, followed by BTC/ETH heat-map saturation and a weakening BTC price, warrant reducing leveraged exposure rather than assuming the last wipeout cleared the field.
Risk cue to tattoo on your monitor: when BTC barely moves but long liquidations keep approaching $1B, the problem isn't volatility. It's how much leverage traders needed to survive ordinary price action.
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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. 📋