Altcoins just got a jolt. The $MYX catalyst and this week’s ...
Altcoins just got a jolt. The $MYX catalyst and this week’s FOMC cut injected a quick burst of risk, but the impulse looks temporary and smells like a local top. That’s nice ser.
Even with the NASDAQ at fresh highs, crypto equity proxies like BMNR and MSTR aren’t confirming, hinting at thinning appetite for pure crypto beta. Bitcoin likely squeezes higher to run stops—120k is a plausible magnet—but if everyone fixates there, sellers will cap it below.
Under the surface, breadth is fading. The median altcoin is printing lower highs while only catalyst names carry the tape, a classic late-cycle tell.
Derivatives agree. Funding skew, perp basis, and OI versus market cap are elevated into resistance, so fading rips beats chasing momentum.
Without sustained spot inflows and a real uptick in stablecoin supply, alt rallies are exits, not entries. The risk is a liquidity wobble or an equities pullback that accelerates alt underperformance; the invalidation is a decisive BTC breakout with improving TOTAL3 and genuine spot-led demand.
Strategy: sell alt spikes into known supply, rotate into BTC on squeezes, and keep dry powder for post-flush resets when leverage clears. Tighten stops, shorten holding periods, and avoid illiquid tails until breadth heals and cash actually returns.
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