OVERVIEW
Stocktwits Crypto Data Dive - Week 46
Welcome to the Stocktwits Crypto Data Dive for Week 46 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 46 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: -19%
From ATH: -44%
Click to enlarge.
Altcoin Market Cap
All-Time High: $1.73 trillion
YTD: -21%
From ATH: -46%
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 - Bitcoin Got Picked Last For Risk-On Kickball 🤔
Wednesday - On-Chain Data Dive: Leverage Absorption Ratio 🔢
Thursday - Huang In There Folks 🤝
PROMOTION
Your IRA Called. It's Bored Of Index Funds. 🥱
The majority of retirement accounts eat the same lunch every day: a little S&P, a little bond fund, repeat for 30 years. BitcoinIRA puts 100+ cryptocurrencies on the menu, all inside a self-directed crypto IRA.
Buy, sell, and swap 100+ cryptocurrencies without ever leaving your IRA
One-click crypto bundles that rebalance automatically, so you can stop babysitting a spreadsheet
Staking rewards on select assets, earned inside your IRA*
Traditional or Roth, your call, with tax treatment depending on the account type*
Already planning to hold crypto for the long haul? Worth seeing what that looks like inside a retirement account before your next contribution.
*3rd Party Ad. Not an offer or recommendation by Stocktwits. See disclosure here.
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.
STOCKTWITS
Hey, We Have A Forex Newsletter Now 😱
Written by yours truly. Super data heavy. Right up your alley. 👀
Subscribe!
It’s once a week, on Mondays. Let me know what you think! 👇
CRYPTO
Weekly Total Market Cap (TMC) Performance
Index | Value | Weekly Performance |
|---|---|---|
TMC Excluding BTC and ETH | $689B | -5% |
TMC Excluding BTC and Stablecoins | $665B | -8% |
TMC Excluding BTC, ETH, and Stablecoins | $419B | -8% |
TMC Excluding Stablecoins | $2.10T | -7% |
TMC Excluding Top 10 | $192B | -7% |
TMC Excluding Top 50 | $40B | -3% |
TMC Excluding Top 100 | $5.9B | -5% |
CRYPTO
Weekly Crypto Index Performance
Index | Weekly Performance |
|---|---|
AI | -3% |
Decentralized Finance | -7% |
Decentralized Physical Infrastructure | -5% |
Exchange Tokens | -4% |
Layer 1 | -7% |
Meme | -5% |
Proof-Of-Stake | -8% |
Proof-Of-Work | -6% |
Real World Asset Tokenization | -3% |
Rehypothecated | -7% |
Smart Contracts | -8% |
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.
October 14 - Long liquidations reach approximately $675M, one of the first substantial green spikes in the window. BTC remains near the low-$80Ks, but leveraged bulls are already having a considerably worse day than the price chart suggests.
October 28 - October 29 - The first major two-day liquidation cluster. Long liquidations approach $930M on October 28, followed by another $760M on October 29. Nearly $1.7B in longs disappears across two sessions.
November 3 - Shorts take their largest hit of the period, with approximately $573M liquidated. A brief change of scenery after weeks of predominantly long-side pain.
November 4 - The largest long liquidation event of the month, with approximately $1.12B wiped out. One day after the biggest short flush, the market promptly reverses who gets the invoice. Very efficient.
November 7 - November 9 - Long liquidations remain substantial, including roughly $770M-$780M on November 7 and another $575M on November 9. The market isn't producing one isolated liquidation event. It's producing a series.
November 12 - Another enormous long liquidation day, approaching $1.08B, as BTC continues weakening toward $70K. The month finishes with nearly as much long-side damage in one session as it delivered on November 4.
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.
November 6 19:00 - November 7 11:00 - BTC and ETH begin the week with moderate activity. Secondary assets remain comparatively subdued, with no widespread saturation across the board.
November 8 11:00 - November 9 11:00 - The first sustained major liquidation wave develops. BTC and ETH push into orange territory across consecutive intervals, approaching the 2,000-trader ceiling. SOL, ZEC, SNDK, and SOXL also show increased participation.
November 10 03:00 - November 10 19:00 - Another strong majors-led concentration appears. BTC and ETH remain near the upper end of the heat scale, while ZEC and several secondary rows brighten. Traders apparently needed another opportunity to test the same leverage assumptions.
November 11 11:00 - November 12 03:00 - Liquidation intensity builds again across the majors. BTC and ETH repeatedly approach saturation, with additional activity developing in XRP, ZEC, SOL, and select secondary assets.
November 12 03:00 - November 12 19:00 - The broadest and most consequential liquidation concentration of the week. BTC and ETH reach or approach the 2,000-trader ceiling, while SOL, HYPE, XRP, ZEC, DOGE, NEAR, SNDK, SOXL, NVDA, UNI, and several other rows register increased counts. This overlaps with the monthly chart's approximately $1.08B long liquidation event.
November 13 11:00 - Activity cools substantially across most rows. BTC and ETH remain visible, but the intensity is considerably lower than the November 12 cluster.
Some Interesting Insights 👓
The monthly chart is defined by repeated long-side liquidation events, including approximately $1.7B across October 28-29, $1.12B on November 4, and another $1.08B on November 12. This was sustained pressure on leveraged bulls, not a single bad session.
The November 3-4 sequence delivered substantial losses on opposite sides of the book. However, the broader period was unmistakably long-dominated, with several green bars dwarfing the largest short liquidation event.
The weekly heat-map shows BTC and ETH repeatedly approaching the 2,000-trader ceiling, with the November 12 concentration spreading across an unusually broad collection of assets.
BTC's decline toward $70K coincided with continuing long-liquidation pressure. The recurring flushes did not produce a sustained recovery, suggesting leveraged buying was still vulnerable whenever price weakened.
No specific macro catalyst is identified in the screenshots. The visible relationship is between falling BTC prices, repeated long liquidation events, and widespread forced exits across the heat-map.
Practical warning: when billion-dollar long liquidations recur, BTC continues making lower prices, and the BTC/ETH heat-map remains near saturation, don't assume the previous liquidation event completed the deleveraging process.
|
Get the app Real-time alerts, live earnings calls, your personalised feed - the best experience is on mobile.
|
Get In Touch 📬
Email me, Jonathan Morgan, feedback; I’d love to hear from you. 📧
Follow me on Stocktwits 🫂 And Sponsor this newsletter 😎
Terms & Conditions 📝
Securities Disclaimer: STOCKTWITS IS NOT A TAX ADVISOR, BROKER, FINANCIAL ADVISOR OR INVESTMENT ADVISOR. THE SERVICE IS NOT INTENDED TO PROVIDE TAX, LEGAL, FINANCIAL OR INVESTMENT ADVICE, AND NOTHING ON THE SERVICE SHOULD BE CONSTRUED AS AN OFFER TO SELL, A SOLICITATION OF AN OFFER TO BUY, OR A RECOMMENDATION FOR ANY SECURITY. Trading in such securities can result in immediate and substantial losses of the capital invested. You should only invest risk capital, and not capital required for other purposes. You alone are solely responsible for determining whether any investment, security or strategy, or any other product or service, is appropriate or suitable for you based on your investment objectives and personal and financial situation. You should also consult an attorney or tax professional regarding your specific legal or tax situation. The Content is to be used for informational and entertainment purposes only and the Service does not provide investment advice for any individual. Stocktwits, its affiliates and partners specifically disclaim any and all liability or loss arising out of any action taken in reliance on Content, including but not limited to market value or other loss on the sale or purchase of any company, property, product, service, security, instrument, or any other matter. You understand that an investment in any security is subject to a number of risks, and that discussions of any security published on the Service will not contain a list or description of relevant risk factors. In addition, please note that some of the stocks about which Content is published on the Service have a low market capitalization and/or insufficient public float. Such stocks are subject to more risk than stocks of larger companies, including greater volatility, lower liquidity and less publicly available information. Read the full terms & conditions here. 🔍
Author Disclosure: The author of this newsletter holds positions in AVAX, ADA, PUDGY, WLD, NEAR, INJ, LTC, LINK, ZEC, XLM, and FET. 📋