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A widely followed analyst believes that Bitcoin’s (BTC) relative share of the overall crypto market cap has entered a downtrend. The analyst pseudonymously known as Rekt Capital tells his 558,000 followers on X that altcoins may soon start breaking out as the Bitcoin dominance (BTC.D) chart is suddenly flashing bearish. BTC.D tracks how much of the crypto market cap belongs to Bitcoin. A bearish BTC.D chart indicates that altcoins are gaining value faster than Bitcoin. “In the end, Bitcoin dominance rejected from the lower high at 66% (black). More importantly, this lower high rejection has caused Bitcoin dominance to lose its macro uptrend (light blue), therefore drastically undermining chances for a revisit of 71%. As a result, Bitcoin dominance is on the cusp of losing this macro uptrend to kickstart a new macro downtrend. To confirm the breakdown from the macro uptrend, BTC.D will need to either turn the uptrend or 60% level (black horizontal) int...

A widely followed cryptocurrency analyst and trader predicts that one Solana (SOL)-based memecoin is on the verge of printing new all-time highs. The analyst, pseudonymously known as Bluntz, tells his 320,800 followers on the social media platform X that memecoin SPX6900 (SPX) appears to have completed an ABC correction on the eight-hour chart, suggesting that the coin has printed a durable bottom. Bluntz practices the Elliott Wave theory, which states that an asset is primed to ignite rallies after completing an ABC correction. “Perfect SPX pullback here after testing prior all-time high for the first time, the next test blasts through in my opinion, still one of the best charts [with a] less than $1billy (billion) market cap in my opinion.” Source: Bluntz/X Looking at his chart, the trader suggests SPX increase to $2.10. SPX is trading for $1.47 at time of writing, up 17.5% in the last 24 hours. The analyst is also bullish on the artificial intel...

A crypto strategist known for accurately calling the 2021 digital asset cycle top believes Bitcoin (BTC) and altcoins are poised to bounce higher this week. The analyst pseudonymously known as Pentoshi tells his 855,900 followers on the social media platform X that the OTHERS weekly chart, which tracks the total market cap of crypto excluding the 10 largest digital assets and stablecoins, is flashing bullish. “Liking [last weekly candle]… [This] week higher for your favorite cryptocurrency coins in my opinion.” Source: Pentoshi/X He believes that the OTHERS chart may soon have a series of rallies and flip the $281 billion resistance level on the weekly chart into support. “These are going to likely be the most decisive spots in terms of trends, entries and exits for the foreseeable future. $250 billion is where we took longs and is very close to an HTF (high time frame) invalidation level which makes it cheap if wrong. $281 billion is our...

A cryptocurrency trader has recorded an extraordinary 36,067-fold return on their investment by betting on a new Solana (SOL) meme coin, Unicorn Fart Dust (UFD). The trader initially invested 0.4 SOL, equivalent to $90.28, to purchase 12,980,490.53 UFD tokens. Over the course of 48 hours, the trader executed two significant swaps.  First, exchanging 50,000 UFD for 13.27 wSOL, valued at $2,856.51. Then, swapping 30,490.53 UFD for 7.96 wSOL, worth $1,713. The remaining 12.9 million UFD tokens were valued at $3.25 million. The trader’s initial purchases of UFD. Source: Solscan However, this valuation hinges on market liquidity and demand, as meme coins like UFD are known for their extreme volatility and limited market depth, making such gains challenging to fully realize. Picks for you AI picks 2 altcoins to buy and add to your crypto por...