Even after the Fed’s first 2025 rate cut and hints at more easing, Bitcoin stalled near $120K, sparking the largest long-liquidation wave of the year and breaking its usual gold correlation. Traders got whipsawed by bullish stock markets and persistent inflation fears, leaving BTC stuck below key resistance despite a macro tailwind.
Altcoins haven’t cracked the code yet—TOTAL2 got rejected at prior highs, BTC dominance is climbing, and the Altcoin Season Index slid from 100 to 65. That said, Q4 catalysts like altcoin ETFs, the CLARITY Act, and high-profile partnerships (LINK’s Commerce Dept. deal, AVAX updates, XRP’s 26%-from-peak surge) could kick off the next rally across ETH, ENA and beyond.
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