💹Why $111,000 BTC Is Just The Start:

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May 22, 2025

GM, enjoying the spectacle?

It really is happening, isn’t it? BTC now holds the $110k area like a champ, and the fact that looking at Google Trends and funding rates on exchanges tells us there are no signs of froth yet, is something to behold.

For many of us, altcoin underperformance is currently problematic. When will our window of opportunity happen? There is a little Hopium here: Bitcoin dominance is printing at least a short-term lower high, although long-term, it’s still structurally bullish. 

Looking at the alt/BTC season index, it seems like we’re nearing that window. If Bitcoin chills out above ATHs and gives alts time to breathe, massive moves will happen, and they will happen quickly (a detailed view on this is in today’s chart of the day below).

What’s promising about the potential of the next altcoin window is ETH, which might finally join the party. It would make sense to see ETH/BTC continue the current bounce, plus, fundamentally, some great improvements are being made on the L1 scaling side, as explained here.

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The important bits.

Even more important bits.

Charts and stats of the day.

  • Unit Protocol on Hyperliquid hit $200m TVL and $150m daily volume

  • USDtb has generated $10M in cumulative revenue for Ethena

  • Michael Saylor's 'Strategy' currently has a $22.7 billion unrealized profit on its Bitcoin investment

  • James Wynn’s long BTC position reached a $1b value, the largest in history

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OTHERS 3D Cryptocap

The OTHERS index is everything outside the top 10 market caps. This is the main index that ascends into extreme degeneracy as bull runs develop. I think this can run up into the VWAP Value area High (VaH) over the next few weeks. This would put the OTHERS market cap anywhere from $350 to $450 billion.

Choose your coins carefully because not everything will run. I am in BTC, HYPE, CPOOL, and Monero as my lazy holds, with 10% allocated to short-term trades. The JUP chart, MLG, and TRUMP look great today. There are too many charts to name here. Come to Discord for more.

Altcoin open interest is still quite muted as a percentage of total open interest. Outside of Hyperliquid, which seems to be a degen shelling point right now (James Wynn take a bow), funding is quite undercooked across major exchanges.

This means we have the potential to run hard for probably over a month. We’re about where we were on November 5 when the Trump pump kicked off into mid to late December. Good luck frens - several weeks of abundance lie ahead. Don’t overthink it.

Come by the Lucky Luke Discord channel for comments, to roast my picks or to pump your own bags. All banter is welcome any time!

Today, Solana smart money flows seem to favour IBRL, which is making noticale noise on the timeline as well.

Source: ChainEdge

Ethereum smart-money flows dominated by memes, mainly by SPX. Murad comeback time?

Source: ChainEdge

To save you doom scrolling.

Can you see yourself in this? I certainly do.

Crypto is the greatest entertainment in the world. Exhibit A:

stay safe homies,

Hix0n 🫡

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