Altcoin Sync Indicator Update

This altcoin wave: Market peak marked in mid-September Pullback low marked in mid-October The candlestick chart shows the total crypto market cap excluding the TOP 10; The line chart represents the M2SL / DXY data lagged by 11 weeks. M2SL is the M2 money supply data released by the Federal Reserve, measured in billions of USD. It reflects the total broad money supply circulating in an economy. DXY (U.S. Dollar Index) measures the value of the dollar relative to a basket of six major international currencies (Euro, Yen, Pound Sterling, Canadian Dollar, Swedish Krona, and Swiss Franc). M2SL / DXY is the ratio of M2 money supply divided by the Dollar Index. When M2SL / DXY rises, investors may anticipate risk asset prices to increase, as higher liquidity and a weaker dollar reduce the cost of holding non-dollar assets. When M2SL / DXY falls, it may indicate tighter monetary conditions, a stronger dollar, and potential benefits for dollar-denominated assets (like U.S. Treasury bonds), but it could pressure assets like gold and cryptocurrencies.