We present the total cryptocurrency market capitalization risk metric and discuss how overheated things currently are in crypto. While the risk levels are elevated (as if anyone needs to be told), we still could theoretically move up from here (if history is any indication). This risk metric includes Bitcoin and all cryptocurrencies, and also accounts for diminishing returns. I think this is a useful model in trying to better understand the cryptocurrency asset class. TA Video by Benjamin Cowen.
