Crypto Just Flipped ? … Is This the Start of the NEXT Bull Run?
This week's market update walks through four charts that, taken together, tell you whether the market is genuinely turning or just bouncing inside a longer bear phase. As of Monday, April 27, two of those four signals are moving in the right direction and two still haven't confirmed. That split is the whole story.
The Total Market Cap Has Flipped Momentum
The starting point is the total crypto market cap — every coin's market value rolled into one chart. On the weekly timeframe, the MACD has printed three green weeks after crossing over a couple of weeks earlier, with four weeks of upward movement behind it.
MACD gets criticised for lagging, and on most timeframes that's fair. Here it works in your favour: if the indicator lags, price was already rising before the crossover appeared, which arguably puts this move on its fifth upward week. Zoom out and the question the chart was asking — does this whole leg go bear, or does it turn back up — now leans toward the upside.
If you want to follow the same chart yourself, it helps to understand what the total crypto market cap actually measures across thousands of coins before you read momentum signals off it.
OTHERS: The Altcoin Chart That Matters
The second chart is OTHERS — on TradingView, that's the top 125 minus the top 10, so Bitcoin, Ethereum and several large caps and stablecoins are stripped out. It's a cleaner read on altcoins than the headline number.
Here the weekly MACD has also crossed, with five upward weeks in the count. It's slightly red today, but Monday is the opening day of the weekly candle, so that means little. On-balance volume rose for four straight weeks before pulling back today — worth watching, because rising volume is what turns a bounce into a base.
Context matters on this one. The 2021/2022 high on OTHERS was roughly $500 billion. It currently sits under $200 billion. Adjust that old high for five years of inflation and you're arguing for something closer to $650 billion — before you even account for the fact that DeFi protocols now carry real usage and total value locked. This chart has been bouncing around the same area for about two years.
The Two Signals Still Missing
The remaining two charts haven't confirmed yet.
First, ETH/BTC. In the last run-up, Ethereum outperformed Bitcoin — both can be falling or rising, but one moves faster in percentage terms. Money has historically rotated from Bitcoin into Ethereum and then outward into smaller coins. That rotation hasn't started. Tracking how the ETH/BTC ratio signals capital rotation is the cleanest way to watch for it.
Second, Bitcoin dominance. It's been sitting in the 58–60% range: sideways, then back up. A meaningful drop toward 50%, 40% or lower usually means everything else is growing market cap faster than Bitcoin. Reading what Bitcoin dominance tells you about altcoin strength is worth doing before you treat any dominance dip as confirmation.
Bitcoin's Own Chart and the Macro Overhang
On the daily, Bitcoin has cleared the volume shelf around the $67,000 area — the price where most business was transacted since September 2023. Above it, volume thins out, so there may be little resistance until roughly $80,000–$83,000, then the $95,000–$96,000 zone. Above $100,000 is closer to price discovery. A retest around $70,000–$73,000 wouldn't be surprising, and the 200-day moving average is still overhead.
Macro sits on top of all of it: a new Fed chair pending Congressional approval on May 15, and oil at roughly $96 versus the ~$60 it traded at for much of the past year.
Charting these four signals side by side is straightforward once you have alerts set up — setting up TradingView alerts and indicators for crypto charts saves you from checking manually every Monday, and TradingView is the platform used for the OTHERS, dominance and ETH/BTC charts shown here.
If you'd rather go through these weekly updates and the full trading course alongside other people asking questions in real time, the discussions happen daily inside the Crypto School community at skool.com/crypto-profit.
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