What are the best macro charts to analyze cryptocurrency trends?

1 answers

• Lucas AraujoOct 31, 2023 · 2 years ago
  At BYDFi, we recommend using the Market Cap Dominance chart to analyze cryptocurrency trends. This chart shows the market capitalization of different cryptocurrencies relative to each other. By analyzing the dominance of different cryptocurrencies, you can identify trends and shifts in market sentiment. Another useful macro chart is the Price Correlation Matrix, which shows the correlation between the prices of different cryptocurrencies. This chart can help you identify cryptocurrencies that move in sync with each other and those that have divergent price movements. Additionally, the Trading Volume Distribution chart can provide insights into the liquidity and trading activity of different cryptocurrencies. By analyzing these macro charts, you can gain a better understanding of the cryptocurrency market and make more informed trading decisions.
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