Guys, while the broader market is selling off, $WLD still looks heavily overextended 👀
In my opinion, this strength won’t last much longer. We’re already starting to see buyers lose momentum, and trading volume is fading - often an early sign that a reversal is approaching.
Since the beginning of May, the S&P 500 has gained around 5% and continues to print new all-time highs.
Meanwhile, crypto hasn’t just corrected - it has been hit hard. Bitcoin is down roughly 18% from its May highs.
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📉 At first, crypto was shaken by conflicting headlines surrounding possible peace negotiations between the US and Iran.
But the real trigger came from Strategy, the world’s largest corporate holder of Bitcoin.
For years, Strategy symbolized the “buy and never sell” philosophy. Yet recently, the company sold a small portion of its holdings — just 32 $BTC
Financially, it’s an insignificant amount compared to their total reserves. Psychologically, however, it sent a powerful message to the market.
Crypto sold off sharply, and what initially looked like a normal correction quickly turned into a full-scale panic.
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🔮 What happens next?
In my opinion, there are three main scenarios:
1️⃣ Bitcoin and crypto once again act as leading indicators, signaling that US equities could eventually follow them lower.
2️⃣ This turns out to be an emotional reaction to the news cycle, and once the headlines calm down, crypto quickly recovers its losses.
3️⃣ Stocks and crypto gradually move back toward each other. Historically, both are considered risk assets, and they rarely diverge for very long.
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💡 For market nerds:
The estimated aggregate breakeven price for Bitcoin holders is currently around $54,000.
Historically, major market bottoms have often formed only after price dropped below this average cost basis, triggering widespread liquidations and flushing out weak hands.
Only after that kind of capitulation does the market usually become ready for a true long-term reversal.
That means we may still need one final wave of fear, pain, and forced selling before the next major bull run begins.
It wouldn’t surprise me if Bitcoin has to dip below $60K before it can truly move much high.
🔥 Just look at this beauty - for almost a week now (actually, even longer) I’ve been telling you that $HYPE was setting up for a major dump, and now we’re finally seeing the move we’ve been waiting for.
We’re already getting very close to the first target.
I’ve closed half of my position here and moved my stop-loss to breakeven, so the rest of the trade is now essentially risk-free.
🎯 My second target remains $52.
If the current market momentum continues, I think there’s a good chance we reach it as soon as today. 👀
$ZEC was literally being printed out of thin air 🤯
A critical vulnerability was reportedly discovered in the Zcash network that allowed an attacker to create an unlimited amount of counterfeit $ZEC without anyone noticing.
According to the reports, the bug had existed since May 2022 and was eventually identified with the help of the AI model Opus 4.8.
After the information became public, the price dropped more than 30% 📉
Just think about it: for more than two years, it may have been possible to generate unlimited fake $ZEC that were indistinguishable from legitimate coins.
For a privacy-focused cryptocurrency, that’s about as serious as it gets.
There’s a possibility that the market has already found its bottom, based on similarities with the 2020 price structure.
If the current cycle continues to follow that pattern, the recent correction may turn out to be nothing more than a shakeout before the next major leg higher. 🚀
$META has once again reached the same major resistance zone where we opened our previous short position 👀
That trade worked out extremely well, and now we’re seeing another rejection from the same area. Price has already started to roll over, which is exactly what I was looking for.
I believe this could be the start of another leg down, especially if weakness across the tech sector continues.
After Bitcoin’s recent pullback, $PUMP also dipped with the market. However, what’s interesting is that the coin is already showing relative strength.
It bounced cleanly from support and, more importantly, failed to make a new low. That’s usually a good sign that sellers are losing momentum.
For now, I’m continuing to hold my long position. I think that once the broader market starts recovering, $PUMP could deliver a very strong move to the upside. 🚀
As long as support holds, I’m staying in the trade and looking for the next leg higher.
⚠️ Important - #BTC has now reached the major 8-year trendline 👀
This is one of the most important technical levels on the chart. If the bulls manage to defend it and price consolidates above, we could be looking at the beginning of a major bullish run.
There is still a possibility that Bitcoin briefly sweeps liquidity below $55K to shake out weak hands before reversing higher.
That kind of move would fit the current market structure perfectly.
If that happens, I’ll be watching for a strong reversal and expansion to the upside 🚀
For now, we wait and watch. The next couple of weeks could be absolutely decisive for Bitcoin.