$ETH is trading at a 7-month high.. $BTC dominance is slowly cracking And alts are starting to move… Feels like the pressure’s building for a full blown altseason We just need one last catalyst to trigger the altseason we have been waiting for. 5 things im watching rn: šŸ§µšŸ‘‡
2/ A few weeks ago, I called for Jubilant July and so far, it has played out to perfection. But that's not all.
3/ In June, I wrote a thread on why the next few months would belong to alts. And guess what happened? Several alts have pumped 2x–3x over the past few weeks, while a few have pumped 5x or more.
4/ Now this begs a very important question: Is the rally over, or will this up-only continue? Let’s take a look.
5/ āž” 1. Pro-crypto bills: Yesterday, the US House passed the Crypto Clarity Act. The Stablecoin GENIUS Act also cleared the House vote. And this is just the beginning.
6/ The Crypto Clarity Act has now headed to the Senate and could take a few weeks before final approval. This bill aims to regulate crypto assets which is the most important step to onboard TradFi.
7/ Whether you like it or not, crypto is still just a drop in a giant pool of liquidity. Without TradFi liquidity, an $8T–$10T market cap isn't possible and the Clarity Act will help bridge that gap. So even if there's a dip, I think it'll happen after the final approval. As we often say: "Buy the rumour, sell the news."
8/ āž” 2. ETF inflows The majority of DeFi, RWA, and stablecoin activity happens on Ethereum. So when ETH goes up, it tends to lift the entire market with it. And ETF inflows are a major indicator to spot that momentum.
9/ In July, Ethereum ETFs have bought 800K ETH worth $2.9 billion. That's nearly 15x the ETH supply issued this month and that's exactly why ETH has pumped. But here's the catch: this pump and the inflows could still go even higher.
10/ Yesterday, BlackRock filed to add Ethereum staking something we've all been waiting for. And if there's one thing we know: When BlackRock files for something, it gets approved.
11/ So, Ethereum staking approval is coming and the timing couldn't be better. Regulations are improving, institutions are buying ETH, and sentiment is shifting bullish. On top of that, rate cuts are expected in Q3, which will push T-bill yields lower.
12/ This will make ETH even more attractive to TradFi offering both yield and price upside. That's why I believe $ETH still has room to run, and any correction will likely come around the staking approval not before.
13/ āž” 3. Ethereum Dominance: We hold alts, so today we're watching Ethereum dominance. Just like ETH/BTC, it bottomed in April and is now trending higher. It broke above the 10% level this week with the next major resistance sitting around 13%–14%.
14/ This suggests Ethereum dominance could climb another 10%–15% from here and that would do two things: → Push Bitcoin dominance lower → Send alts to new yearly highs
15/ āž” 4. $BTC + Stablecoin Dominance This is one indicator I've relied on heavily and I keep a close eye on it. Why? Because it reveals two key things: → Liquidity is not flowing into Bitcoin → And it's not sitting on the sidelines either
16/ This means liquidity is flowing into alts. Just look at the recent stablecoin mints: → $3B in USDT → $1B+ in USDC And yet, stablecoin dominance is dropping. I believe this downward trend could continue until BTC + stable dominance hits 60%–62% which might take another 4–6 weeks.
18/ I wouldn't wait for this indicator to hit #1 but I also won't start selling until it cracks the top 10. Judging by current sentiment, that could take a few more weeks. And when it does, I'll slowly begin exiting my positions.
19/ āž” Conclusion: To be honest, I'm not selling right now. There's some FOMO on my timeline but it's not full-blown euphoria. So until I see real signs of euphoria or my indicators flash a sell signal... I'm just going to HODL. will probably share about these indicators in my next thread. stay tuned
That's a wrap! Got any questions about this thread? Drop them in the comments, and I'll be happy to help. Stay updated by joining my Telegram: And if you found this useful, I'd really appreciate a follow: @Axel_bitblaze69 Thanks for reading! šŸ˜‰
I hope this thread brought you some value! Make sure to follow @Axel_bitblaze69 for: • More valuable crypto insights • Real-time alpha & airdrop updates If you found this helpful, feel free to like/retweet the first tweet below!šŸ‘‡
$ETH is trading at a 7-month high.. $BTC dominance is slowly cracking And alts are starting to move… Feels like the pressure’s building for a full blown altseason We just need one last catalyst to trigger the altseason we have been waiting for. 5 things im watching rn: šŸ§µšŸ‘‡
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