Since late August, Mid/Small caps have seen the strongest growth in market cap. The gap between the annual average and the monthly average of these assets' market cap keeps widening, with the ratio now reaching 41%. Bitcoin's trend is also positive but more limited, with a ratio of 7%, and only 3.5% for large caps. This is fairly unusual, as most of the time Bitcoin is the one that initiates the move, as clearly seen coming out of the 2023 bear market. However, Mid/Small caps are much more sensitive, and the trend can quickly flip in either direction.
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