Monthly Bearish Cross on BTC Dominance, Alts Run, SpaceX Profits Soar
Main Idea
Bitcoin's market dominance has dropped to a six-month low as capital shifts towards altcoins like Ethereum, driven by crypto-friendly regulations and institutional interest, while Bitcoin itself reaches new all-time highs.
Key Points
1. Bitcoin dominance hits a six-month low with a monthly bearish cross, signaling a shift in capital towards altcoins.
2. Ethereum and other major altcoins are gaining strength due to crypto-friendly regulations that support broader adoption.
3. Bitcoin reached a new all-time high near $124k, with some analysts projecting targets as high as $200,000 by year-end.
4. SpaceX holds 8,285 BTC (worth ~$1.02B) and Tesla holds 11,509 BTC (worth ~$1.4B), with combined Musk-linked corporate Bitcoin holdings at roughly $2.42B.
5. Market trends suggest potential multi-quarter upside for altcoins, with volatility and rotations expected to continue.
Description
Bitcoin tightens, but it no longer dominates. Dominance just dropped to a six-month low. Money is shifting. Alts are running faster. Ethereum leads. New, crypto-friendly regs loosen the path for institutions and funds. That opens wallets, ETFs, and custody flows. The result is capital rotating into ETH and other majors. The dominance chart printed its first monthly bearish cross since January 2021. That cross mattered before. In 2021, it prefaced four months of alt strength. If the pattern repea...
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