Bitcoin will either ‘Godzilla’ up or drop on ‘alt mania’ — Samson Mow

Key Points

1. Bitcoin hit a new peak of $124,500 on Coinbase, pushing total crypto market capitalization to a record $4.26 trillion.

2. Samson Mow outlined two scenarios: Bitcoin could surge ('Godzilla up'), causing altcoins to drop 30-40%, or 'alt mania' could trigger a sell-off, briefly dipping Bitcoin before it rebounds.

3. Ethereum has outperformed Bitcoin by 58% over the past 30 days, while Bitcoin gained only 3.5%.

4. Bitcoin dominance has dropped below 60% for the first time since January, indicating a potential altcoin season.

5. DeFi is gaining momentum, with total value locked at a peak and rising, fueling DeFi revenue and speculation around ETH and DeFi assets.