According to the source, the total crypto market capitalization is reported to be down by $680B from its all-time high, indicating a broad risk-off phase that typically weighs more on altcoins than BTC; traders should verify this on TradingView CRYPTOCAP:TOTAL and CoinMarketCap Global Charts. source: TradingView (CRYPTOCAP:TOTAL), CoinMarketCap Global Charts Traders should confirm trend direction by checking CRYPTOCAP:TOTAL and CRYPTOCAP:TOTAL2 versus 50D and 200D moving averages; sustained closes below these MAs strengthen a risk-off bias and favor defensive positioning. source: TradingView (TOTAL, TOTAL2, MA overlays) Rotation cues matter: rising BTC dominance (BTC.D) during market-wide drawdowns historically aligns with altcoin underperformance and higher stablecoin share; monitor BTC.D momentum and market breadth. source: TradingView (BTC.D), CoinMarketCap Dominance Metrics Derivatives confirm or fade the move: track BTC and ETH perpetual funding and open interest; negative funding alongside falling OI suggests deleveraging, while negative funding with rising OI can signal crowded shorts. source: Coinglass (Funding, OI), Binance Futures Data Key price map: watch the prior TOTAL cycle ATH, weekly swing highs/lows, and liquidity zones; failure to reclaim the weekly pivot keeps bounces corrective until proven otherwise. source: TradingView (CRYPTOCAP:TOTAL weekly chart)