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- Dgenz Crypto Weekly 031
Dgenz Crypto Weekly 031
Your go-to newsletter for crypto market updates, trends and analysis brought to you by DgenzNFT.
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Bitcoin didn’t just flirt with all-time highs this week, it smashed through them topping out at $112K. The fuel? A cocktail of softened U.S.–China trade tensions, fresh optimism around crypto regulation, and the Federal Reserve doing what it does best: firing up the money printer. U.S. money supply hit a record high in April for the first time in three years, and as usual, Bitcoin responded like it had just heard Jerome Powell say “infinite liquidity”. Meanwhile, thousands of degens swarmed Vegas for BTC Inc.’s annual conference at The Venetian, where the price of Bitcoin was almost as high as the room service bill. The real buzz wasn’t just from keynote speakers like JD Vance or the virtual cameo from Ross Ulbricht, it came from the institutional crowd, with BTC Inc. CEO David Bailey citing a fivefold increase in Wall Street suits compared to last year. Not to be outdone, retail showed up too, many inspired by Trump’s recent White House win and his growing pro-crypto stance. Over in the land of meme stocks, GameStop cashed in on its cult status again—this time converting $1.5B in convertible notes into 4,710 BTC, now worth over $500 million. And they’re not alone. SharpLink Gaming just raised $425M to buy Ethereum for its corporate treasury, onboarding Consensys co-founder Joe Lubin to their board in the process. If you’re keeping score, that’s now two unexpected Web2 fossils pivoting harder than Meta in 2022. Stablecoin kingpin Circle is also making moves, aiming to raise up to $624M via IPO at a potential $6.7B valuation. The USDC issuer’s filing with the SEC signals that TradFi's appetite for crypto is still very much alive, especially when regulators aren’t breathing down their necks. Finally, a pseudonymous coder known only as “cyber” has taken the phrase Bitcoin anywhere to a whole new level. His open-source project “darkwire,” developed for the Bitcoin 2025 Hackathon, lets users send BTC transactions without internet access, using long-range radio to hop data across a mesh network like a post-apocalyptic Tor. It’s designed for disaster zones, blackouts, and authoritarian regimes—or just anyone who prefers LoRa over 5G.
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Crypto Insights: Weekly Charts
Bitcoin Dominance
$BTC.D has once again deviated above this important resistance level over the last 2 days. This level previously acted as a strong support and point of control towards the end of April so a reclaim of this level would not have been good for the alt market. We can see here on the chart that we have $BTC.D approaching support, but we also have Bitcoin coming back down breaking below an ascending trendline for a probable retest of the 1D 12 EMA. This level has proved to be a good support since late April so as long as we are holding the line at $107K things should remain bullish. A loss of $107k on Bitcoin however could see a move down towards $102k and potentially signal a trend reversal.
The BTC.D chart shows Bitcoin’s market dominance, revealing its share of the total crypto market cap and helping investors understand capital flow trends and overall confidence in Bitcoin versus altcoins.
Others
Usually we cover the Others dominance chart but if we look at the market cap of $OTHERS it looks to be showing signs of a breakout. We have a descending trendline and an inverse head and shoulders pattern with the neckline at our daily resistance level. Although, $300B still remains a crucial level after playing a pivotal role in the 2021 bull run, and in both the March & November 2024 rallies. For a similar altcoin run we will need to reclaim this $300B level, and it's only a matter of time until we see it. The first retest of this level as resistance is already completed along with the retest of our neckline on the inverted H&S. Now, this is a high time frame analysis, so there is still enough room for price to continue to consolidate with a few more retests of this $250B support level before eventually leading to the breakout. But any chance you get to buy or position yourself into swing longs around $250B is a golden opportunity.
The OTHERS 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.
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