Posted on

Altseason Loading? Analyst Explains How FTX $5B Distribution May Trigger The Next Bull Leg

As Bitcoin and Ethereum hover near critical resistance levels, market sentiment is shifting rapidly. Analysts are now calling for an incoming Altseason, with bullish momentum building across the board, even as macroeconomic uncertainty continues to rattle global markets. Despite rising treasury yields and geopolitical tensions, crypto assets are showing strength, and altcoins appear poised to benefit next.

Top analyst Axel Bitblaze has spotlighted May 30th as a potentially defining moment in this cycle. This week, over $5 billion in stablecoins will be distributed to FTX creditors—a massive injection of liquidity representing nearly 2% of the entire stablecoin supply. Unlike previous events, this capital is expected to stay within the crypto ecosystem.

Most of these investors remained in crypto despite the FTX collapse. Now, as they regain access to their funds, many are likely to rotate that capital back into the market. With Bitcoin targeting $120K and Ethereum challenging the $3,000 level, the stage is set for capital to flow into high-beta altcoins and push for an Altseason.

Altcoins Setup Strengthens Ahead Of $5B FTX Liquidity Injection

The FTX collapse in late 2022 was a brutal event, marking the climax of the previous bear market. It triggered mass panic, billions in liquidations, and the final capitulation that ultimately set the bottom of the cycle. While devastating in the short term, it paved the way for recovery. Now, nearly two years later, May 30th may become the most important day of this new phase.

FTX is distributing over $5 billion in stablecoins to creditors this week—a long-awaited step in the bankruptcy process. These payouts represent nearly 2% of the total stablecoin supply and will hit the market in one large wave. But this isn’t just idle money returning to passive holders. Most of these users remained in crypto through the storm. They didn’t leave—they adapted, held, and now, they’re getting liquidity back in the middle of a bullish setup.

FTX Creditor Recovery Summary | Source: Axel Bitblaze on X

The timing couldn’t be better. Ethereum is pumping, flirting with a critical resistance level that, if broken, could confirm a major move for altcoins. Bitcoin is hovering near its all-time highs, altcoins are gaining serious traction, pro-crypto narratives are heating up in Washington, and regulatory progress is finally in motion. Everything is aligning at once.

Bitblaze explains that this $5B return of capital could be the exact catalyst the market needs. In his view, this sudden injection of liquidity could send Bitcoin toward $120K—and unlock the altseason traders have been waiting for.

Ethereum Eyes $2,700 Breakout As Altseason Momentum Builds

Ethereum (ETH) is currently trading at $2,638, consolidating just below a key resistance zone at $2,700. After a sharp rally in early May, ETH has held its gains and formed a solid base above the 34 EMA ($2,331) and key moving averages. The 200-day SMA, sitting at $2,697, now acts as a critical ceiling for price action. A clean breakout above this level would mark the first major reclaim of the long-term trend line since the bull cycle resumed, potentially unlocking a powerful continuation for ETH and the broader altcoin market.

ETH testing a pivotal resistance | Source: ETHUSDT chart on TradingView

Volume has remained steady throughout this consolidation phase, indicating buyer interest and positioning ahead of a decisive move. ETH’s structure shows higher lows and strong bullish follow-through, suggesting that momentum is building just beneath the surface.

If Ethereum can close above $2,700 with conviction, it would not only confirm a breakout but could also trigger broader market rotation into altcoins. Historically, ETH breaking above major resistance levels has been a strong leading indicator for altseason. With Bitcoin hovering near ATHs and macro conditions favoring digital assets, ETH’s next move could be the spark that ignites a new wave of altcoin rallies across the board.

Featured image from Dall-E, chart from TradingView

Posted on

Altseason Loading? Analyst Explains How FTX $5B Distribution May Trigger The Next Bull Leg

As Bitcoin and Ethereum hover near critical resistance levels, market sentiment is shifting rapidly. Analysts are now calling for an incoming Altseason, with bullish momentum building across the board, even as macroeconomic uncertainty continues to rattle global markets. Despite rising treasury yields and geopolitical tensions, crypto assets are showing strength, and altcoins appear poised to benefit next.

Top analyst Axel Bitblaze has spotlighted May 30th as a potentially defining moment in this cycle. This week, over $5 billion in stablecoins will be distributed to FTX creditors—a massive injection of liquidity representing nearly 2% of the entire stablecoin supply. Unlike previous events, this capital is expected to stay within the crypto ecosystem.

Most of these investors remained in crypto despite the FTX collapse. Now, as they regain access to their funds, many are likely to rotate that capital back into the market. With Bitcoin targeting $120K and Ethereum challenging the $3,000 level, the stage is set for capital to flow into high-beta altcoins and push for an Altseason.

Altcoins Setup Strengthens Ahead Of $5B FTX Liquidity Injection

The FTX collapse in late 2022 was a brutal event, marking the climax of the previous bear market. It triggered mass panic, billions in liquidations, and the final capitulation that ultimately set the bottom of the cycle. While devastating in the short term, it paved the way for recovery. Now, nearly two years later, May 30th may become the most important day of this new phase.

FTX is distributing over $5 billion in stablecoins to creditors this week—a long-awaited step in the bankruptcy process. These payouts represent nearly 2% of the total stablecoin supply and will hit the market in one large wave. But this isn’t just idle money returning to passive holders. Most of these users remained in crypto through the storm. They didn’t leave—they adapted, held, and now, they’re getting liquidity back in the middle of a bullish setup.

FTX Creditor Recovery Summary | Source: Axel Bitblaze on X

The timing couldn’t be better. Ethereum is pumping, flirting with a critical resistance level that, if broken, could confirm a major move for altcoins. Bitcoin is hovering near its all-time highs, altcoins are gaining serious traction, pro-crypto narratives are heating up in Washington, and regulatory progress is finally in motion. Everything is aligning at once.

Bitblaze explains that this $5B return of capital could be the exact catalyst the market needs. In his view, this sudden injection of liquidity could send Bitcoin toward $120K—and unlock the altseason traders have been waiting for.

Ethereum Eyes $2,700 Breakout As Altseason Momentum Builds

Ethereum (ETH) is currently trading at $2,638, consolidating just below a key resistance zone at $2,700. After a sharp rally in early May, ETH has held its gains and formed a solid base above the 34 EMA ($2,331) and key moving averages. The 200-day SMA, sitting at $2,697, now acts as a critical ceiling for price action. A clean breakout above this level would mark the first major reclaim of the long-term trend line since the bull cycle resumed, potentially unlocking a powerful continuation for ETH and the broader altcoin market.

ETH testing a pivotal resistance | Source: ETHUSDT chart on TradingView

Volume has remained steady throughout this consolidation phase, indicating buyer interest and positioning ahead of a decisive move. ETH’s structure shows higher lows and strong bullish follow-through, suggesting that momentum is building just beneath the surface.

If Ethereum can close above $2,700 with conviction, it would not only confirm a breakout but could also trigger broader market rotation into altcoins. Historically, ETH breaking above major resistance levels has been a strong leading indicator for altseason. With Bitcoin hovering near ATHs and macro conditions favoring digital assets, ETH’s next move could be the spark that ignites a new wave of altcoin rallies across the board.

Featured image from Dall-E, chart from TradingView

Posted on

Crypto Liquidations Near $1 Billion As Bitcoin & Altcoins Bounce Back

Data shows the cryptocurrency market has witnessed massive liquidations during the past day following the recovery Bitcoin and the altcoins have made.

Bitcoin & Altcoins Have Jumped Back Following Trump’s Announcement

Bitcoin and the rest of the cryptocurrency sector ended February on a very bearish note, as the market went through a deep drawdown that took BTC to as low as $78,000. In a flash, however, the digital assets have seen their fates flip during the past day.

The impetus behind the recovery move has been Donald Trump’s announcement of a Crypto Strategic Reserve that includes Bitcoin, Ethereum (ETH), XRP (XRP), Solana (SOL), and Cardano (ADA).

The announcement came through the president’s official Truth Social handle. In the initial post, Trump only mentioned the altcoins XRP, SOL, and ADA, but in a follow-up post, he also confirmed BTC and ETH, saying they will be “the heart of the Reserve.”

Since the US elections, the Crypto Reserve has been something much-anticipated in cryptocurrency circles, so it’s not surprising that the news has been able to have a drastic effect on trader mood.

Bitcoin Price Chart

From the graph, it’s visible that Bitcoin approached the $95,000 level during the surge, but its price has since witnessed a small pullback to $92,800. Ethereum has displayed a similar pattern, although its retrace from $2,550 to $2,360 has been notably larger than BTC’s.

Overall, the top two cryptocurrencies are up 8% and 6% during the last 24 hours, respectively. Interestingly, XRP, SOL, and ADA, the three coins initially announced, have shown much stronger rallies of 17%, 13%, and 48%, respectively.

The bullish momentum hasn’t been restricted to just these five included in the Reserve, as coins across the space have observed some degree of rise. A consequence of all this volatility has been that liquidations have piled up on derivatives platforms.

Crypto Derivatives Market Has Just Seen $971 Million In Liquidations

According to data from CoinGlass, a total of $971 million in cryptocurrency derivatives contracts have found liquidation in the past day. “Liquidation” here refers to the forceful closure any open contract undergoes after it has amassed losses of a certain degree.

Below is a table that breaks down the relevant numbers related to the latest mass liquidation event.

Bitcoin & Crypto Liquidations

As is visible above, around $558 million of these liquidations involved the short investors, representing over 57% of the total. These traders making up for the majority of the event is naturally expected, as the market has gone up inside this window. Though, despite the bullish action, around $412 million in long holders still got liquidated as a result of the pullback.

In terms of the individual symbols, Bitcoin and Ethereum have predictably come out on top with $353 million and $182 million in liquidations, respectively.

Bitcoin & Other Cryptos

Posted on

Bitcoin Underperformance Precedes ‘Insane Altcoin Rally,’ Expert Warns Of Repeat

According to market expert Jamie Coutts, after an extended period of consolidation and lackluster performance by the two largest cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH), the market may be poised for a resurgence. Coutts believes the ingredients are in place for a broad altcoin rally, following in the footsteps of the “insane” bull run of 2020-2021.

Altcoin Revival On The Horizon? 

The key catalyst, Coutts says, is the influx of global liquidity that is starting to accelerate. He notes that Bitcoin lags behind the upward movement in the broader M2 money supply, a crucial indicator of market trends. Coutts explained that the ingredients and progression for a broad altcoin rally are normally in place. 

Coutts’ analysis also highlights the underperformance of Ethereum (ETH) relative to Bitcoin, with the ETH/BTC ratio continuing to “bleed out” after a brief bullish signal in June. However, he believes this presents an opportunity, as ETH is likely oversold based on its historical performance against BTC.

While the crypto market landscape remains choppy, with Bitcoin consolidating and altcoins testing the upper end of their downtrend channels, Coutts believes the pieces are falling into place for a renewed surge. 

The market expert emphasizes that the “Crypto Top 40 Advance/Decline Line (ADL)” needs to start leading price action and flip positive to signal a true market turnaround.

Bitcoin Generating ‘Outsized Returns’

Reflecting on recent market events, Coutts highlights a notable oversold reading during the Yen carry unwind event, signaling significant assets hitting 6-month lows. The percentage of assets above their 200-day moving average (MA) remains at a modest 25%, indicating a general sense of ambivalence in the market.

Regarding performance, only 13% of the top assets are outperforming Bitcoin, suggesting a phase where selective high-quality assets are poised to bottom out and excel once the bull market resumes. Coutts mentions specific coins like TRON and TON, which have demonstrated adoption amidst market pullbacks.

Coutts maintained that the ingredients and progression for a broad altcoin rally are starting to come together. These include the assets being “extremely oversold, unloved and under-owned,” global liquidity turning higher in a “meaningful way,” and bitcoin generating “outsized returns” that allow weak holders to recycle profits into altcoins.

Reinforcing Coutts’ bullish stance, Julio Moreno, head of research at data analytics firm CryptoQuant, pointed to the stablecoin market capitalization reaching a fresh record high above $165 billion. Moreno argues that this “implies higher liquidity in the crypto markets” – a key ingredient for the next crypto bull run.

Bitcoin

At the time of writing, BTC is trading at $60,830, up over 3% in the 24-hour time frame. Further consolidation above this level will be key for Bitcoin’s recovery in the coming days.

Featured image from DALL-E, chart from TradingView.com

Posted on

Cardano Among Alts Likely To See Price Boosts, Santiment Says

On-chain analytics firm Santiment has revealed Cardano (ADA) is one of the altcoins that could likely see price jumps shortly.

Cardano Among Altcoins That Are Being Heavily Shorted Right Now

In a new post on X, Santiment has talked about the altcoins being shorted against on the derivatives market. The indicator of relevance here is the “Funding Rate,” which keeps track of the periodic fee that derivatives traders have to exchange with each other.

When the value of this metric is positive, it means the long contract holders are currently paying a premium to the short investors to hold onto their positions. Therefore, this kind of trend implies the presence of a bullish majority sentiment in the market.

On the other hand, the negative indicator suggests the short holders outweigh the long ones right now, and as such, a bearish mentality is the dominant one in the sector.

In the current topic, Santiment has referred to the Funding Rate specifically for the cryptocurrency exchange Binance, which is the largest platform by trading volume and should, thus, represent the trend on other large exchanges.

Here is the chart shared by the analytics firm that shows the trend in this indicator for three altcoins over the past few months:

Cardano Funding Rate

As is visible in the above graph, all three of Cardano, Chiliz (CHZ), and Fantom (FTM) have seen their Binance Funding Rate stay inside the negative territory for the past five weeks, implying that investors have continuously been betting against a bullish outcome for them.

Historically, such aggressive shorting against any asset has positively affected its price. This is because a liquidation squeeze is more likely to affect the dominant side of the market right now.

A “liquidation squeeze” is an event where a sharp move in the price liquidates a large amount of contracts at once. These liquidations feed back into the move that caused them, thus amplifying it and kicking off a cascade of further liquidations.

The chart shows that these three altcoins had also seen a similar level of shorting earlier in the year. What followed this bearish sentiment was a surge in their prices. Cardano saw a 10% surge, Chiliz 32%, and Fantom 49%.

Thus, going by this trend, it’s possible that short liquidations could once again happen for these altcoins and lead to a rally in their prices.

ADA Price

Cardano had broken past the $0.45 mark earlier, but the asset appears to have plunged since then, as its price is now trading around $0.39.

Cardano Price Chart

Posted on

XRP & Cardano Whales Load Up Bags: Preparation For Altcoin Rally?

On-chain data shows that XRP and Cardano whales have been accumulating recently, which can be bullish for the prices of these altcoins.

XRP & Cardano Whales Have Gone On A Buying Spree Recently

As analyst Ali explained in a new post on X, XRP whales have seen their holdings go up over the last couple of weeks. The indicator of relevance here is the “Supply Distribution” from the on-chain analytics firm Santiment, which tells us about the total amount of assets the different market groups hold.

The whale cohort is of interest in the current discussion. These investors hold between 1 million and 10 million XRP in their balance.

At the current exchange rate, these amounts are worth around $0.52 million and $5.2 million, respectively. Clearly, these are pretty significant holdings, which is why whales are considered influential in the market.

Now, here is a chart that shows how the Supply Distribution of the entities belonging to this XRP group has looked like recently:

XRP Whales

The graph shows that while the XRP price has been stuck in consolidation during the last couple of weeks, the whales have been viewing the opportunity as a buying one.

These humongous investors have scooped up over 110 million cryptocurrency tokens (equivalent to almost $57 million) inside this window. This buying scale isn’t particularly massive, but the fact that these investors have been backing the coin through this poor period should be an optimistic sign.

It would also appear that XRP isn’t the only one on the large holders’ radar recently. Market intelligence platform IntoTheBlock revealed in an X post that Cardano has also seen a significant buying push.

Cardano Whales

In the above chart, IntoTheBlock displays the holdings of the Cardano investors, which are between 100 million and 1 billion ADA. This range’s bounds convert to about $45.3 million and $453 million, respectively, so these whales would be much more massive than the XRP ones just discussed.

As is apparent from the graph, these ADA entities have expanded their holdings over the past month. More particularly, their supply has grown by 11% in this period, which, when considering the scale of the total holdings of this group, is an enormous increase.

According to the analytics firm, these Cardano whales now control 6.71% of the entire circulating supply of the cryptocurrency all by themselves.

This latest buying push towards XRP and ADA from the whales simultaneously could be a potential sign that these large entities are expecting an altcoin rally soon. Given that Cardano has seen it happen at a much more significant scale, the coin could likely see better returns than XRP if a surge does happen.

XRP Price

XRP has displayed stale price action recently, as its price has continued to move sideways around the $0.52 level.

XRP Price Chart

Posted on

Crypto Expert Says ‘Prepare Yourself’ For Massive Altcoin Run, Here’s Why

Cryptocurrency analyst, Michael van de Poppe has alerted the broader cryptocurrency community about an upcoming altcoin rally. The analyst has cited the recent upward trend experienced by Bitcoin as a positive signal for this prediction. 

Get Ready For Major Altcoin Run

In a recent X (formerly Twitter) post, Poppe suggested that altcoins are poised to become the next in line for the 2024 bullish momentum. Citing Bitcoin’s recent upward surge to over $60,000, the crypto analyst has disclosed that this substantial price increase is a clear signal for a potential altcoin rally in the market. 

He predicts that during this potential altcoin run, major cryptocurrencies may experience substantial surges that could potentially push their prices far above their previous all-time highs. In light of this, the crypto analyst has advised the broader cryptocurrency community to remain vigilant and make necessary preparations for this anticipated bullish event. 

Lately, market sentiment has been indicating a shift from Bitcoin investments to meme coins and other major altcoins. Just last week, a Solana-based memecoin, Dogwifhat (WIF) experienced a massive surge, propelling its price to $1 and boasting a year-to-year gain of over 90%. 

Furthermore, popular altcoins like Solana and Cardano have witnessed significant price increases and growth in their respective markets. On March 1, Solana’s price surged to two-year highs, skyrocketing above $136. Conversely, Cardano recorded a boost in its adoption rate, with the total number of Cardano wallets in the ecosystem approaching 4.6 million. 

These subtle developments are indicating a potential shift in the market dynamics of altcoins, as an increasing number of cryptocurrencies are beginning to mirror Bitcoin’s bullish momentum. 

Altcoins Gearing To Pump

A crypto analyst, identified as “Dami Defi” on X has disclosed that recent market trends are signaling that “altcoins are getting ready to pump.”

Dami Defi’s predictions are anchored in the diminishing dominance of Bitcoin in the cryptocurrency market. He explained that when the market capitalization of the entire crypto market is on the rise and simultaneously, Bitcoin’s dominance decreases, it often signals a healthy and widespread bull market in the crypto space. 

According to the analyst, this scenario implies that the market’s growth is not solely focused on Bitcoin but would also potentially be distributed across various altcoins. He has revealed that despite Bitcoin’s recent price rally, the cryptocurrency has been experiencing notable outflows, with a substantial portion of these funds moving into altcoins. 

“If we continue to see BTC dominance go down and total 3 resistance gets broken, all hell will break lose and altcoins will pump crazy,” Dami Defi stated. 

Altcoin total market cap from Tradingview.com (Crypto analyst)