Is a Bigger Move Coming?! | Trading the Markets

Bitcoin is at a key inflection point after dipping to around 60,000 dollars last week and forming a double bottom. It briefly closed above the 65,000 resistance level before closing back below it, with volume tailing off well below its moving average and a DeMark 9 exhaustion signal appearing at the top of the bounce. A bullish RSI divergence on the weekly timeframe is still holding, but Bitcoin needs to reclaim 65,000 as support to demonstrate short-term strength. A mean reversion to the 20-day moving average does not invalidate the thesis of a further leg down, and Bitcoin could still see a move into the lower fifties range within the next two to three months, with a capitulation bottoming pattern pointing to a time horizon extending to approximately October.

Bitcoin dominance has leveled off after a significant flush while the alt season index sits at 46 out of 100, meaning 46 of the top 100 coins are outpacing Bitcoin over the last 90 days. Major top-10 altcoins including Ethereum and Solana are generally underperforming smaller altcoins, with Ethereum only mean reverting to its 20-day moving average and not close to reclaiming horizontal support. Solana is only slightly above its 20-day moving average, and Chris describes both Solana and Ethereum as tracking Bitcoin closely with neither being the exciting trade at the moment. Despite healthy Solana DEX volume and rising ETF inflows, Solana has underperformed Bitcoin over roughly 90 days, and Chris states it is his second biggest personal holding with no plans to sell.

Hyper Liquid is the episode's highest-conviction idea. It outpaced Bitcoin heavily in the rally following a June 11th bottom, generated over one billion dollars in trading volume on day one of the SpaceX IPO, and has become the platform of choice for high-demand events including oil, gold, silver, and anticipated Anthropic and OpenAI IPOs. However, RSI shows a bearish divergence with the RSI peak lower than the prior peak while price made a new high, volume has rolled over since a DeMark 13 exhaustion signal in May, and the current DeMark setup is at a 5, suggesting limited additional upside before another pause. The recommendation is to take some profits but not go underweight given fundamental catalysts. If US regulatory approval for perps comes through, the speaker sees HYPE reaching 300 dollars, roughly a 5x from current price, which would still put its market cap below Binance's current market cap. The speaker believes Hyper Liquid has a larger addressable market than Solana because traditional finance is exponentially bigger than Solana's current ecosystem, and predicts HYPE will eventually flip Solana's market cap. Everything said about Hyper Liquid applies equally to Perp.

Gido, described as the largest liquid staking protocol for Ethereum, is up 153 percent in the last 90 days and has broken above its 200-day moving average, which is unusual among crypto assets. A promotional campaign through BitGit offering higher yields is driving much of the short-term price action, and there is rumor of a new buyback mechanism. The speaker chose to monitor Gido weekly rather than buy immediately, waiting to see whether the buyback materializes and whether price holds after the finite promotion ends.

Injective gained approximately 3,340 percent during its 2023 peak run and recently upgraded its mainnet to improve utility for perpetuals, stablecoins, and real-world asset tokenization, with fees accruing back to token holders. Despite competitive architecture, it lacks significant real-world usage and needs to prove adoption before it becomes a buy. SPX was recently listed on Bithumb and Upbit, Winter Mute increased its holdings, and a whale opened a 1.7 million dollar 10x long position via Hyper Liquid worth approximately 8.5 million dollars, with the speaker describing SPX as one of the more resilient meme coins since launch.

Aerodrome introduced a predictive allocation model rewarding liquidity providers who correctly anticipate future liquidity demand, sparking a rally above its 200-day moving average, but moving averages remain flat or pointed downward and RSI is overextended, making chasing the move risky. Ondo is described as solid in the tokenized real-world assets sector but has delivered flat-to-down performance through most of 2025 while other assets made new all-time highs, and significant token unlock overhang poses a risk to price appreciation. JST runs a full DeFi ecosystem on Tron, was largely immune to the October and November crypto crash, and is up approximately 2x from the start of 2025, though low liquidity and limited DeFi activity on Tron may make it difficult for Western investors to access. NEAR is above its 200-day and 20-week moving averages but is considered overvalued with momentum waning, and both NEAR and Sui are seen as interesting for capturing the agentic economy as the mass adoption thesis shifts from retail consumers to AI agents coming on-chain.