"The Pinch" is something I picked up from @TheFlowHorse a while ago. Basically just points towards how much risk is being added/removed from $BTC and being tagged onto alts and $ETH which is a decent coarse indicator of how risk tolerant the environment is getting. From Nov 24' to Jan 25', it is pretty evident how overheated the environment was. The 34%+ proximity area for OI dominance is one to keep an eye on in general for "Others". The recent spike marked on the chart was cleaned out a bit on the last flush but looks like we're getting quicker on adding leverage back into alts (boom-bust sequence). Whether we get a full blown pinch and period such as the one seen from November 2024 to January 2025 remains to be seen - hypothetical scenario could be an aggressive break on $BTC above 120 and alts following suit. Chart can be found under Coinalyze global charts.

@TheFlowHorse

@TheFlowHorse