Bit Mining’s stock price surged 350% in pre-market trading after announcing a strategic pivot into the Solana ecosystem.

Bit Mining surges 350% on pivot to Solana, plans $300M token treasury

Altcoins have endured years of underperformance as Bitcoin continues to 
dominate the crypto market. Despite several short-lived rallies, most altcoins 
remain far below their previous highs, weighed down by investor skepticism and 
capital concentration in BTC. However, there are signs that sentiment might be 
shifting. In recent days, strong altcoins have started to recover, showing 
resilience as broader market conditions improve. Related Reading: Bitcoin 
30-Day Average Funding Rate Drops – Bullish Setup Takes Shape Top analyst Carl 
Runefelt shared a technical setup revealing that the altcoin market is now 
bouncing off a major support zone. This move has sparked fresh debates among 
traders and investors. Is this the start of a long-awaited altseason, or 
merely a temporary relief bounce before further downside? The bounce comes as 
macroeconomic uncertainty begins to fade and liquidity returns to the crypto 
market. Still, key resistance levels remain untouched for many projects, and 
overall confidence in altcoins hasn’t fully returned. While the current setup 
is promising, confirmation will depend on whether this rally can break above 
critical levels and sustain higher prices. Altcoins Eye A Breakout As Ethereum 
Holds The Key Altcoins remain nearly 50% below their all-time highs, but 
sentiment is beginning to shift. Bulls are preparing for an expansive move 
across the board, with growing anticipation that a breakout could materialize 
once Ethereum clears its current resistance zone. Since early May, ETH has 
been trading in a well-defined consolidation range, and altcoins have mirrored 
this sideways behavior, struggling to gain momentum without a clear signal 
from the market’s second-largest asset. Carl Runefelt recently shared insights 
suggesting that the altcoin market is showing signs of life. By analyzing the 
TOTAL3 chart—which tracks the combined market cap of all cryptocurrencies 
excluding Bitcoin and Ethereum—Runefelt highlights that altcoins are bouncing 
off key support in BTC terms. This bounce could indicate the beginning of a 
recovery rally, especially if capital rotation from BTC into altcoins 
accelerates in the coming sessions. Historically, altcoins thrive when 
Ethereum leads the charge. A confirmed breakout above the $2,800 resistance 
zone could ignite broad participation and kickstart a new altseason. The 
current market structure suggests that many investors are positioning early, 
anticipating that macroeconomic clarity and market stability will fuel risk-on 
behavior. However, the rally is not yet confirmed. Bulls still need Ethereum 
to break out decisively and sustain momentum above recent highs. If that 
happens, many oversold altcoins could see sharp recoveries and set the stage 
for a broader market expansion. For now, patience and timing remain key as 
traders watch ETH and TOTAL3 closely for signals of the next leg up. Related 
Reading: Ethereum Price Action Signals Momentum Shift: BTC Sleeps And ETH 
Moves TOTAL3 Chart Shows Key Rebound From Macro Support The TOTAL3 chart, 
which measures the total crypto market cap excluding Bitcoin and Ethereum, is 
showing early signs of recovery after a sustained period of weakness. As of 
now, the chart reflects a bounce from the $830 billion level, which aligns 
closely with the 100-week simple moving average (SMA), currently acting as 
dynamic support. This level has historically served as a critical pivot zone, 
especially in mid-cycle consolidations. The market cap sits near $875 billion, 
still over 40% below the previous cycle’s peak, but with bullish momentum 
building. The recent weekly candle has posted a strong green body, suggesting 
renewed interest in the altcoin segment. Volume has also picked up, showing 
growing confidence among participants as many altcoins recover from deeply 
oversold conditions. Related Reading: ERC-20 Stablecoin Supply Hits All-Time 
High At $121B – Liquidity On The Rise Technically, this bounce could signal 
the beginning of a new macro leg higher, especially if the 50-week SMA is 
reclaimed and price holds above $900 billion. The overall structure remains 
constructive, with higher lows forming since late 2022 and price compressing 
into a potential breakout formation. Featured image from Dall-E, chart from 
TradingView

Altcoins Jump Off Critical Support Level – Relief Or Reversal?

Ripple USD just took a giant leap toward mainstream financial dominance, with 
institutional backing and regulatory clarity setting the stage for explosive 
global adoption. RLUSD Highlights Regulatory Trust in Global Finance Evolution 
Stablecoins are gaining ground as trusted financial instruments, with major 
custodial partnerships pointing to a broader institutional shift in how 
digital assets are […]

Ripple’s RLUSD Boosts Transparency and Compliance, Signals Finance Shift

Bitcoin (BTC) reached a new all-time high (ATH) yesterday, climbing to 
$111,999 on Binance exchange before dipping slightly to around $110,000 at the 
time of writing. While the broader trend remains bullish, some analysts now 
anticipate a short-term pullback. Bitcoin Remains Bullish But Some Pullback 
Expected According to a recent CryptoQuant Quicktake post by contributor 
BorisVest, early warning signs suggest that BTC may face a brief correction. 
The analyst noted that if momentum doesn’t pick up soon, Bitcoin could 
struggle to maintain its bullish trajectory. Related Reading: Bitcoin Heating 
Up? NVT Golden Cross Hints At Potential Local Top Binance taker buy/sell 
volume has shown a noticeable spike in aggressive buy orders &#8211; usually a 
bullish signal &#8211; but sell volume has also risen in tandem, effectively 
absorbing most of the demand. Despite this uptick in buy volume, BTC’s price 
has not responded proportionally, suggesting distribution or selling pressure. 
For the uninitiated, Binance taker buy/sell volume measures the amount of 
aggressive buying versus selling on the exchange using market orders. A higher 
taker buy volume indicates strong buyer interest, while higher taker sell 
volume signals stronger selling pressure. In addition, Binance open interest 
has surged during the recent price rally, signalling an influx of leveraged 
positions. While rising open interest can support further gains, the subdued 
price reaction raises concerns about Bitcoin&#8217;s short-term strength. Meanwhile, 
funding rates have stayed mostly neutral throughout the rally. However, the 
most recent push to a new ATH saw BTC&#8217;s funding rates turn slightly positive, 
hinting at increasing long exposure and renewed bullish sentiment. The 
breakout also triggered significant short liquidations, likely fuelling a 
short squeeze. Data from Coinglass shows that over the past 24 hours, $521 
million in positions were liquidated &#8211; $448 million of which were shorts. 
Market Needs A Breather Before Climbing Higher Concluding, the CryptoQuant 
contributor noted that despite the emerging signs of caution, Bitcoin’s 
overall bullish structure remains intact. However, the market is now seeing 
the early signs of a potential short-term pullback, especially due to the 
spike-driven nature of the move. Related Reading: Bitcoin Realized Dominance 
Signals Weak Hands Capitulating, Strong Hands Rising Other analysts share a 
similar outlook for BTC. For example, crypto analyst Christian Chifoi 
suggested that the current price action may be a deceptive move designed to 
trap bullish traders &#8211; potentially pushing BTC down to $97,000 before the 
final rally begins. That said, the recent weakness observed in the US Dollar 
Index (DXY) has fuelled hopes for a capital reallocation to alternative 
assets, including BTC. At press time, BTC trades at $110,885, up 1.1% in the 
past 24 hours. Featured image from Unsplash, charts from CryptoQuant and 
TradingView.com

Bitcoin Uptrend Intact, But Binance Activity Warns Of Short-Term Pullback

Bitcoin soared to a fresh peak of $117,000 on Thursday, climbing 4.2% against 
the U.S. dollar. Meanwhile, the meme coin market caught a tailwind of its own, 
bouncing 15.1% higher to hit $68.68 billion. Meme Coin Market Erupts as 
Traders Chase the Next Viral Moonshot The past 24 hours have been a green wave 
for […]

Meme Coin Mayhem: Over a Dozen Tokens See Double-Digit Gains

Bitcoin is primed for an explosive rally into 2025 as institutional demand, 
monetary easing signals, and fiscal instability converge to push prices toward 
$180,000. $180K Bitcoin in Sight? Vaneck Insider Signals a Perfect Storm Into 
2025 Rising institutional interest, fiscal instability in Washington, and 
dovish monetary expectations are combining to lay the groundwork for a […]