- So, this analyst, bless his heart, made an alt-season call based on Funding Rates’ correlation with U.S. T-bills. Because, you know, who doesn’t love a good correlation? 😂
- But BTC and stablecoin dominance dropped negligibly, like my hopes of winning the lottery, to confirm the altcoin season call at the time of writing. 🙄
Ah, the elusive broader altcoin season of 2025! It’s like trying to find a needle in a haystack, especially with macro uncertainty keeping Bitcoin [BTC] below $90K. Talk about a party pooper! 🎉
But wait! Guy Young, the founder of Ethena [ENA], thinks the sector could explode soon. And by explode, I mean in a good way, not like my last attempt at cooking! 🍳💥
He said,
“In the last two years, we’ve had only two periods where funding averaged below risk-free rates for more than two consecutive weeks. Alts went vertical immediately after on both occasions. As of last Friday, we just recorded the third period.”
Young’s attached chart showed that the altcoin market cap, excluding BTC and stablecoins, rallied (green) after the signal (red) was flashed. But was history on the verge of being repeated? Or are we just stuck in a time loop? ⏳
Altcoin season status
In previous altcoin seasons, Bitcoin dominance (BTC.D) and USDT dominance (USDT.D) took a nosedive. It’s like watching a bad rom-com where capital flowed from BTC to altcoins, and liquidity surged as users exchanged their USDT for top altcoin gems. 💎
Since mid-March, USDT dominance has declined from 6% to about 5.1%. Over the same period, BTC.D eased slightly from 62.4% to 61%. During the November altcoin pump, BTC.D dropped from 62% to 55%, while USDT.D declined from 6% to 4%. It’s like watching a slow-motion train wreck! 🚂💥
And let’s not forget the small retracement in BTC.D and USDT.D coincided with a recovery in speculative interest, as illustrated by the Fartcoin pump. Yes, you heard that right, Fartcoin! The AI meme-coin bounced +180% in the past two weeks. Who knew flatulence could be so profitable? 💨💰
The speculative interest has since spread to BONK and SPX, as they emerged as top performers in the past seven days. It’s like a high school popularity contest, but with coins! 🏆
Additionally, select altcoins like Hyperliquid [HYPE], Render [RNDR], and Berachain [BERA] topped 24%-30% gains over the same period. They’re the overachievers of the class! 📈
But for a confirmed broader altcoin rally, the BTC.D and USDT.D should weaken further, as they did last November. In fact, the Altcoin Season Index reading of 24 revealed that it was still a BTC season. So, hold onto your hats, folks! 🎩
In conclusion, Guy Young’s altcoin season call could be validated if BTC.D and USDT.D declined further in a clearer macro environment. Or we could just keep waiting for the next big thing, like a sequel to a bad movie! 🎬
Read More
- Cookie Run Kingdom: Shadow Milk Cookie Toppings and Beascuits guide
- Cookie Run Kingdom Town Square Vault password
- 10 Hardest Bosses In The First Berserker: Khazan
- Maiden Academy tier list
- Girls Frontline 2 Exilium tier list
- `H&M’s Wild White Lotus Getaway`
- ‘White Lotus’ Fans React to That Incest Kiss: “My Jaw Is On The Floor”
- ‘Bachelor’ Co-Executive Producers Exit Franchise
- Be Happy’s Abhishek Bachchan reveals how daughter Aaradhya gives him a reality check; says he did the same with dad Amitabh Bachchan
- Wizardry Variants Daphne tier list and a reroll guide
2025-03-26 02:19