Bitcoin just closed the quarter at its highest levels ever. The trend is still up. Price keeps proving that.
And yet, somehow, people keep forgetting the only thing that actually matters in this market: the price trend.
Traditional finance folks love to call crypto a “fad” or a “grift.” That’s just their way of explaining away their lack of exposure.
But here’s the truth: Not everything you don’t own enough of is a scam. Not every rally you miss is unsustainable gambling.
When I hear those dismissals, I cringe. Imagine growing up to be that bitter and closed-minded.
It’s so much easier to respect what the market is actually doing. In Bitcoin’s case, the message couldn’t be clearer:
The trend is still up and to the right.
Tech Leads, Crypto Confirms
Bitcoin is now just a few percentage points away from fresh all-time highs on the daily timeframes.
That shouldn’t surprise anyone who’s paying attention. Just yesterday, the Technology sector closed at its highest levels ever relative to the S&P 500.
And remember, here at TrendLabs we don’t treat Crypto like it’s some mystical asset class. We treat it the same way we treat Tech stocks, because that’s what it trades like.
So, when Technology breaks out to new all-time highs vs the broader market, it makes perfect sense that Bitcoin (and Crypto more broadly) is confirming that same strength.
Tech is leading. Crypto is following. The trend is aligned, and it’s higher:
Think about Technology like a big team. On this team, you’ve got Software, Hardware, and Semiconductors.
Now imagine Crypto is just another player on that team. It’s not the biggest player, but it’s not the smallest, either. It’s right there in the mix, playing an important role.
And here’s the crazy part: All the Crypto “players” together are now worth more than $4 trillion. That’s the most they’ve ever been worth, and they just finished the quarter at brand-new record highs.
That’s not small. That’s not pretend. That’s a real part of the game.
On this Tech team, Bitcoin has always been the star player. Right now, Bitcoin makes up about 59% of the whole Crypto team’s value.
That’s still huge. But here’s the twist: Just this summer, Bitcoin was carrying more than 66% of the weight.
So what happened? The ball started getting passed around.
Other players – like Ethereum, and even some of the smaller names – have been stepping up and scoring points. Their growth is cutting into Bitcoin’s “dominance” on the team.
That’s where something we call “Total3” comes in. Think of it as the scoreboard for every Crypto player except Bitcoin and Ethereum.
And guess what?
That group – all the other players combined – just finished the quarter with a value of more than $1 trillion for the first time ever:
The star player is still shining, but the rest of the team is finally getting in on the action.
And when the whole squad is contributing, the game usually gets even more exciting.
Sure, one day the scoreboard won’t look so good. Prices won’t always be climbing “up and to the right.” At some point, the run will end.
Maybe it’s a correction, maybe it’s a full-on crash. We’ve seen it before, and chances are we’ll see it again.
But that’s not today.
Right now, the team is winning – and the crowd is still underestimating them.
The star player (Bitcoin) is strong, the co-star (Ethereum) is holding their own, and even the bench (Total3) is finally putting points on the board. This is what broad participation looks like.
So we’re staying in the game.
We’re long, and we’re looking to put more money to work, whether that’s directly on the old block n chain or through one of the many TradFi vehicles now available.
The trend is clear, the team is rolling, and the play is simple: Stay on the field while the crowd keeps doubting.
Stay sharp,
JC Parets, CMT
Founder, TrendLabs