Total 3 Crypto Market Cap and US10Y

In our ‘Daily dose of Chart’ today we are looking into Crypto and US10Y rates. We are plotting Total 3 Crypto market Cap vs US 10 Y. Total 3 Crypto Market Cap which is the sum of all the total Crypto market cap except BTC and ETH. The Total 3 was in a bearish pattern throughout 2022 and 2024 when the US10Y was making a head and shoulder pattern. After completing the head and shoulder pattern, the yields fell which gave Total 3 to break out of a 2 year base. But with the recent breakout in US10Y rates, the Total 3 is suffering a short term bearish market. We see a cup and handle forming on the weekly chart for the Total 3. But my assessment is that the handle formation will not complete until the beginning of Q2 2025 on the weekly chart. We will revisit the chart in April 2025.