OVERVIEW
Crypto Data Dive - Week 4
Welcome to the Crypto Data Dive for Week 4 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 4 and explore its intriguing insights!
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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
Click to enlarge.
Altcoin Market Cap
All-Time High: $1.73 trillion
Click to enlarge.
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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.
Click to enlarge.
The GIF below shows the past 13 weeks of movement on the RRG.
Click to enlarge.
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Total Market Cap (TMC) Performance For 2025
Index | Value | Weekly Performance |
|---|---|---|
TMC Excluding BTC and ETH | $843B | -5% |
TMC Excluding BTC and Stablecoins | $913B | -9% |
TMC Excluding BTC, ETH, and Stablecoins | $558B | -7% |
TMC Excluding Stablecoins | $2.7T | -7% |
TMC Excluding Top 10 | $205B | -7% |
TMC Excluding Top 50 | $49B | -6% |
TMC Excluding Top 100 | $9B | -5% |
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Crypto Index Performance For 2025
Index | Weekly Performance |
|---|---|
AI | -11% |
Decentralized Finance | -6% |
Decentralized Physical Infrastructure | -7% |
Exchange Tokens | -5% |
Layer 1 | -7% |
Meme | -11% |
Proof-Of-Stake | -9% |
Proof-Of-Work | -7% |
Real World Asset Tokenization | +1% |
Rehypothecated | -7% |
Smart Contracts | -9% |
Stablecoins | -1% |
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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.
November 30 - early long-side flush near $800M as BTC slips and dip-buyers step in way too early.
December 14-16 - repeated medium long wipes in the $400M-$500M range as leverage rebuilds into another stall.
December 31 - January 1 - thin-liquidity rotation where shorts finally take a meaningful hit near $300M.
January 2-3 - sharp short-side liquidation spike as BTC pops and late bears get squeezed.
January 6-7 - follow-through short pressure, again in the $250M-$300M zone, before activity cools.
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.
7-day Cryptocurrency Liquidation Heatmap - Click to enlarge.
January 18 03:00-19:00 - the hottest stretch of the week, with BTC, ETH, SOL, and XRP all printing orange columns.
January 19 11:00 - majors remain hot while alts lag, confirming top-down liquidation flow.
January 20 03:00-19:00 - another synchronized wave across BTC and ETH, with DOGE and HYPE flaring alongside.
January 21 11:00 - alt participation increases, especially DOT, AXS, and FARTCOIN, after BTC stabilizes.
January 22 03:00-19:00 - late-week reheat with majors and select alts lighting up together before fading.
Some Interesting Insights :
Over the full window, this market stayed locked in a leverage rotation cycle rather than resolving directionally.
Long liquidations dominated the middle of the range, while shorts got punished near short-term highs.
Liquidation spikes lined up with failed BTC pushes, not macro headlines or structural breaks.
Majors still trigger every meaningful wave, but trader-count damage spreads fastest into smaller names once liquidity thins.
The consistent signal here is behavioral: positioning resets faster than price can move.