Bitcoin Reigns, Memecoins Up in Flames 🔥👑
Bitcoin dominance stays strong while memecoins get wrecked. With 30M tokens floating around, the market's shifting focus back to the king
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Hey there, Hodlers!
After a long weekend of doing absolutely nothing productive, the markets are back.
At least we’ve finally broken the old, cursed pattern where crypto would nosedive on big news over the weekend, only to magically recover on Monday when TradFi clocked in and cleaned up the mess.
The highlight right now?
Options traders are placing their bets and open interest in $110K Bitcoin call options is heating up.
Meaning?
Some degens (ahem, "calculated risk-takers") are wagering that liquidity and macro shifts will send BTC soaring.
Will they be right?
Or will we all just keep staring at charts in agony for another month?
We’ve been screaming bullish for weeks, and we still believe it. But yeah, we’re getting bored.
It’s time for the next move up. Let’s get on with it already. 🚀🔥
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Bitcoin Runs the Show, But Can Alts Still Shine?
It’s still Bitcoin’s moment.
Dominance continues to hold strong above 60%.
All major headlines involving nation states, TradFi, banks and other funds are all surrounding Bitcoin.
The closest thing we have seen to an altseason?
Bitcoin dominance at 54% and memecoins getting all the mindshare.
How are memecoins doing now?
Well you already know…rekt.
Most are down 70%+ in just 30 days and over 95%+ from their all-time highs, with only a handful of the bigger names hanging on for dear life. And the craziest part? This freefall really only kicked into high gear recently.
Why? Well, crypto will be crypto, but also, Bitcoin has stolen the spotlight (as it always does), and with 30+ million tokens now floating around, launching a new memecoin is easier than ordering a coffee.
Turns out, infinite supply doesn’t mix well with weak demand.
Will memecoins make a comeback?
Altcoins: Back to Fundamentals or Just a New Flavor of Hopium?
Thankfully, we seem to be shifting away from memecoins that sit at the far end of the risk curve.
While Bitcoin is still king, the altcoins that have solid fundamentals seem to be hanging in there.
Prices are starting to reflect fundamentals.
That’s right, no more buying purely based on cartoon animals and Twitter/Tik Tok hype (probably). Now, projects are getting valued based on their actual tech instead of just their “100x roadmap” and Discord cult following.
This is good news because let’s be honest - most of us suck at picking the next hockey-stick memecoin and are even worse at exiting before the inevitable rug-pull or price crash.
So yeah, let’s pretend we always cared about tech, team, tokenomics, total addressable market, and… uh, the last T (trust? timing? tequila?).
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Disclaimer: The content from Hodl Report should not be taken as trading, investment or financial advice or solicitation to buy or sell any assets. This newsletter is for informational and educational purposes only. Please be careful out there and DYOR (do your own research).