Since Feb, there has been a long trail of global uncertainty as the US Iran war, Tariffs and Oil supply shock has shaken the global stock markets and the crypto market as well. Since 2022, retail investors and traders have been waiting for a massive alt season or meme coin rally. The wait seems to be over as the most awaited clarity act decision seems to come as soon as next week and if approved, it could unlock Trillions to get into crypto market unleashing a massive bull run specially in meme coins sector, hence some of the famous meme projects seems to be doing quite well today like SHIBA INU (+28%), PEPE, PNUT, WIF, FLOKI (10-15%) and many others.
The Fear and Greed Index seemed to capture this shift. It showed that investors are simply fearful, likely spooked by the prospect of another liquidation. There is an interesting dynamic that might suggest that investors are simply waiting on the sidelines for calm to settle down.
For example, the Altcoin Season Index, which tracks whether altcoins are leaning toward a bull run or bear dominance. On 23rd July, the index was at 51 with altcoin market capitalization at $923.67 billion. By 25th July, it had climbed to 53 while altcoin capitalization fell to $900.46 billion. This seemed to be a divergence pointing to lingering bull interest.
Finally, a key indicator of whether investors are willing to step back in runs through stable coin supply. That figure appeared to be minimal against the outflows the market absorbed over the same week. Until a major inflow arrives, likely north of the $1 billion-mark, the market is likely to stay muted.
As of now, at the time of writing, the global crypto market capitalization stands at $2.2T which indicates a jump of 1% in the past 24 hours leading by meme coins.