(Total2-USDT-USDC)/(USDT+USDC) indicator

Let's chart the
Ratio: (Total 2 - (USDT + USDC)) / (USDT + USDC)

This indicator currently shows an increased liquidity coming to alt market.

Total 2: This is the total market cap of all cryptocurrencies except Bitcoin. This essentially gives you an idea of the market size for altcoins.

USDT + USDC: Represents the combined market cap of Tether and USD Coin, which are used as liquidity providers in exchanges, especially in pairs involving altcoins.

Explanation:

Numerator (Total 2 - (USDT + USDC)): This is the market cap of all altcoins minus the market cap of the two major stablecoins. This figure could represent the liquidity in the altcoin market that isn't tied up in these stablecoins. If this number is higher, it might suggest there's more market cap in altcoins available for liquidity and trading activities outside what's held in these stablecoins.

Denominator (USDT + USDC): This is the total liquidity provided by these stablecoins, which is often used for trading because stablecoins maintain a relatively constant value compared to volatile cryptocurrencies.

The Ratio: What this ratio is attempting to measure is the relationship between the liquidity available for altcoins relative to the liquidity provided by these stablecoins. A higher ratio might imply:

Liquidity Conditions: In a bull market, if this ratio grows, it might indicate that there's sufficient liquidity to support further growth in altcoin prices. Conversely, if this ratio decreases, it might mean that liquidity is tightening, or traders are moving more into stablecoins, possibly out of caution or to prepare for market downturns.