Bitcoin dominance is nearing 64%, a level last seen at the peak of the 2020 bear market.
This isn’t just Bitcoin’s move. It’s capital rotating out of altcoins.
Historically, this has been a pivotal point. If it crosses 66%, altcoins might bleed harder before a true altseason.
Watch closely 👀
It seems that for the first time since November 2024, cryptocurrencies—those notorious purveyors of chaos—are looking ever so *tempting* once again. After months of sideways, sleep-inducing trading, XRP (yes, dear reader, *XRP*), the rebellious little brother of Bitcoin, has been catching some much-deserved spotlight. 🧐
As if guided by fate, the IMX token surged to a stunning peak of $0.687 on April 23, a climb so sharp it made even the most seasoned traders pause in disbelief. That’s nearly double its lowest price for the month—because, why not? Its market cap has gracefully ascended to $1.16 billion, and the trading volume? Well, it’s up by a mere 760%, reaching $432 million—because everyone loves a good buying spree, right?
The Long-Term Holders (LTHs)—bless their patient souls—are back to accumulating, much like a person who just can’t resist buying more books they’ll never read. Meanwhile, the Short-Term Holders (STHs), those thrill-seeking gamblers, seem to be heading for the exit, clutching their purses and mumbling something about ‘regret’ and ‘missed opportunities.’
The great market of cryptos seems to be recovering its vigour, with the noble Ripple’s XRP climbing to an impressive 8.83% and Pi Network’s PI token gallantly rising by 6.5% on this fine Wednesday. All this while the mighty Bitcoin—our golden beast—approaches the magnificent height of $95,000. Truly, a sight to behold!
Grayscale, the self-proclaimed king of crypto investments (who’s just trying to hold onto its throne), is expanding its ETF lineup. According to an interview with the CEO Peter Mintzberg—who, by the way, took over just last August (because why not add more drama to the mix?)—the company is going from launching one product a month last year to five per month in 2025. So, five times the thrill, but will it be five times the success? Who knows!
Our soothsayer from CryptoQuant, Axel Adler Jr., murmurs tales of these audacious traders, piling on to a staggering mountain of 57,000 BTC positions—all valued at a dizzying $5.34 billion. It’s like watching a circus where the clowns juggle fortunes while you clutch your seat, wondering if the tent will collapse.
But don’t you go thinking they done lost ’em for good. Nope, quicker than a cat can lick its ear, the same number popped right back into existence over at the RLUSD Treasury, freshly minted like new silver dollars.
Our beloved digital chrysalis, Bitcoin, has flared its wings above $93,000 with the giddy enthusiasm of a debutante at her first ball. The cocktail fueling this surge includes a splash of détente in the US-China trade soap opera, a new SEC sheriff named Paul Atkins striding into town, and a presidential telegram assuring us that Jerome Powell remains Fed Chair—no coups here, folks! Such theatrics have crowned Bitcoin the fifth monarch of assets, leapfrogging Google to boot—because why not?
For a sustained rally, imagine a river needing constant replenishment. Capital, like water, must flow ceaselessly into the market. Otherwise, the riverbed dries, and the journey upstream becomes a fool’s errand. 🌊