📊 Altcoins Still "Stagnant" – What Are the Notable Data Points? In the context of many investors expecting Q4 to be an explosive period for altcoins, some new data suggests the market is still in a hesitant state. Below are the compiled signals of note from the total cryptocurrency market capitalization chart (TOTAL) on the weekly timeframe, on-chain indicators, technical and macro perspectives. 🧵👇

3⃣ Market sentiment data: Retail has not returned Google Trends for the keyword “crypto” remains low, with no signs of a spike. Coinbase app drops sharply in App Store rankings, showing low interest among mainstream users. The Social Risk index (aggregating search data, followers, video XEM ...) is still below 0.1, reflecting low retail interest. 👉 When new money has not really returned, altcoins - which are heavily dependent on retail money - may have difficulty breaking out.

4⃣ Macro context: FED has not yet switched to “risk-on” The US Federal Reserve (FED) is still maintaining a tight policy (QT), not starting to reduce interest rates. This means that cheap money has not returned, and the market's willingness to "take risks" in general is still low. 👉 In such an environment, large Capital assets like BTC or ETH are often preferred over small - cap altcoins.