Our series of guest posts written by members of the All Star Charts research team continues...
Today's note is from our Senior Crypto Analyst. If you're not following what's been going on in crypto, you're missing out...
-JC
The Goalposts Are in Another Dimension
Kia ora!
I'm Louis Sykes, the Senior Crypto Analyst here at All Star Charts.
When JC casually dropped that he was escaping to Disney World for an entire week, I thought he was pulling my leg.
An entire week?
At Disney World?
As a humble Kiwi where our idea of a theme park is basically a few rides and a half-day commitment, this sounded like some parallel universe of leisure.
"It's not just a park," he explained, his voice brimming with childlike excitement. "The hotel's basically a playground, and there are multiple theme parks surrounding you." Multiple? In New Zealand, we consider a carousel and a mediocre rollercoaster a full day's entertainment. This was like hearing about a theme park multiverse.
Speaking of multiverses that boggle the mind, Bitcoin just hit $100,000. This has been our first target of this bull market for years. Above there, $155,000 could be next.
Much like JC's Disney adventure seems almost surreal to my humble sensibilities, this milestone represents a journey far beyond what many thought possible. Now we're in the fascinating zone of watching how this will resolve; will it rip right through or will it pause here?
We're already seeing the market respect this level with Bitcoin trading sideways these last few weeks.
Ethereum and Solana are also testing important areas of overhead supply. I'm watching $4,100 and $260, respectively.
But despite this resistance levels coming into play, I'm still seeing some healthy (or should I say hilarious) rotations down the cap scale.
Fartcoin just hit a market cap of $750M, which is greater than 20% of all public companies in the Russell 3000.
Some days, this market doesn't just move the goalposts of what's normal - it teleports them to another dimension.
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See you in there!
- Louis
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