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- Dgenz Crypto Weekly 026
Dgenz Crypto Weekly 026
Your go-to newsletter for crypto market updates, trends and analysis brought to you by DgenzNFT.
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The bulls are back this week. Bitcoin ETFs just posted their biggest single-day gain in nearly three months, with $381.3 million in net inflows on Monday—marking the strongest performance since January 30. Public company Upexi also made waves after announcing plans to build a corporate treasury on Solana using over $90 million in newly raised capital, causing its stock to more than quadruple. Meanwhile, Solana’s meme coin scene continues to defy all logic, with Fartcoin pumping 21% in the last 24 hours to reach a $1.08 billion market cap. It’s now the second largest meme coin on Solana, leapfrogging Bonk and closing in on Official Trump. And just when you thought things couldn’t get more unhinged, enter sperm racing—an actual sport where college students donate samples, and their swimmers compete on a microscopic track. Yes, you can bet on it with crypto. And no, this isn’t satire—the project has already raised $1.5 million in seed funding and the first race is scheduled to take place on April 25th. On a more serious note, Circle has launched the Circle Payments Network, a stablecoin-powered infrastructure that lets banks and fintechs transfer funds instantly across borders using USDC and EURC.
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Crypto Insights: Weekly Charts
USDT Dominance
$USDT.D finally lost its uptrend on Friday followed by a huge 6% drop yesterday breaking straight through its previous support. Although, it is now currently testing our next key support around 5%. A daily loss of this level could be massive for crypto and allow the run to continue, but a pullback and retest of that middle blue band first would not be unlikely. You may see some stalling on Bitcoin due to $USDT.D finding support, and even if $USDT.D goes back up to the next level, Bitcoin should only drop down to $90K.
The USDT.D chart shows the market dominance of Tether (USDT), indicating the proportion of crypto market value held in Tether and reflecting investor sentiment towards risk, as higher dominance often signals a move towards stability.
TOTAL2
On Monday we also finally broken out of the downtrend on $TOTAL2 with a perfect retest giving us a bullish change of character. Again, although it looks bullish for now, resistance only lies about 2.5% away at 1.06T so don’t go blowing your load just yet, save it for the sperm race on Friday.
The TOTAL2 chart shows the market cap of all cryptocurrencies excluding Bitcoin, offering insight into the altcoin market's health. A rising TOTAL2 often signals increased interest in altcoins, while a decline may indicate a shift back to Bitcoin or reduced altcoin investment.
Others Dominance
As you can see here on the daily chart we are currently breaking out of the downtrend giving us some bullish signs for not just our Top 10 coins but the entire alt market. Would love to see a daily close today above 8.04% so we can invert that bearish fair value gap that we failed to on Sunday and continue the move up giving alts a good run.
The OTHERS.D chart highlights the market share of altcoins outside the top 10 by market cap, giving investors insight into capital flow and interest in the broader crypto market.
Bitcoin
$BTC is now facing heavy resistance around the $95K region and we are basically trying to reclaim/retest this previous major support zone on the daily chart. If price gets rejected from this zone and falls below then this will be a major bearish retest but if price is able to hold around here then there are chances to go higher, but I doubt that. RSI is extremely topped out on most time-frames so a pullback towards $85K is still possible in the coming days/weeks. Another caution I'd advise with Bitcoin is when it comes to the weekly chart, we need to close a weekly candle above $92K because if we don’t, it could simply just be a bearish weekly retest of a double top. Now is certainly a good spot to take profits and de-risk your position.
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