hodler

8 Jun 2026, 02:55

Crypto market rally today: Here’s why Bitcoin and top altcoins are going up

A crypto market rally is underway today despite the ongoing retreat in global equities, with Japan’s Nikkei 225, German’s DAX, Hong Kong’s Hang Seng, China’s Shanghai Composite, and Australia’s ASX 200 falling by over 0.80%. Bitcoin (BTC) jumped to $63,000 from the weekend low of $59,000. The top gainers in the crypto market were Audiera, Siren, Zcash, Dash, Humanity, Near Protocol, and Worldcoin. Audiera jumped by over 50%, while privacy tokens like Zcash and Dash jumped by 14% and 10%, respectively. Other top tokens like Near, Worldcoin, and Bittensor rose by over 10%. Strategy hints at Bitcoin buying The main reason behind the ongoing crypto market rally today is that Michael Saylor hinted that it bought Bitcoin last week. In an X post, he said that it was a good time to go buying, a cryptic statement that hinted at renewed purchases. https://twitter.com/phongle/status/2063617109817495698 This will be a notable purchase as the company sold 35 coins in the previous week. It also did not buy coins in the previous one. The company will send an update on the number of coins it bought last week later today. Strategy has made substantial losses in the past two years. It now holds 843,706 coins valued at over $53 billion. Its total cost basis was $63 billion, meaning that it has suffered an unrealized loss of over $10 billion. Saylor has hinted that the company will continue buying these coins for a long time. To do that, the company will continue diluting its shareholders as it raises its funds by selling common and preferred shares. A renewed buying will lead to renewed interest among investors, some of whom were afraid that the company was starting to capitulate. AI tokens lead ahead of the SpaceX IPO The crypto market rally is happening as investors pile into AI tokens ahead of the upcoming SpaceX IPO . Elon Musk’s SpaceX is at the intersection of space technology and AI because of its ownership of xAI. As such, investors have piled into top AI coins like Audiera, Humanity, NEAR Protocol, Worldcoin, and Bittensor. All these crypto projects have their own AI credentials. For example, Worldcoin and Humanity are in the human verification area of the crypto industry. NEAR Protocol has established itself as the layer-1 network for AI development. It also runs Near AI, which offers AI agents. Bittensor offers a decentralized AI development platform. Potential dead-cat bounce The ongoing crypto market rally is also likely a dead-cat bounce, a situation where an asset in a freefall bounces back briefly and then resumes the downtrend. In this case, the dead-cat bounce is happening because Bitcoin price dropped to a crucial support level at $60,000. This was a notable level because it was the lowest level this year and is also a crucial psychological level. Therefore, there is a risk that the ongoing rebound will not last. As such, analysts recommend that investors should wait a bit before opening their positions. Besides, there are substantial risks ahead, including the strong US jobs numbers, which boosted hopes of a Fed interest rate hike. The post Crypto market rally today: Here’s why Bitcoin and top altcoins are going up appeared first on Invezz

8 Jun 2026, 02:55

Bitcoin Set for Short-Term Rebound After Spot-Driven Sell-Off, 10X Research Says

BitcoinWorld Bitcoin Set for Short-Term Rebound After Spot-Driven Sell-Off, 10X Research Says Bitcoin is likely to see a short-term rebound early this week after a sharp sell-off that was driven by spot market activity rather than futures market speculation, according to a new analysis from research firm 10X Research. The firm argues that the market has been misattributing the recent decline, which was led by spot investors selling their holdings rather than aggressive short selling in the derivatives market. Spot Market, Not Futures, Driving the Decline In a report released over the weekend, 10X Research pointed to key data points that challenge the prevailing narrative. The firm noted that Bitcoin funding rates actually rose by 0.9 percentage points last week to an annualized rate of 5.7%, indicating that long positions were still willing to pay a premium to maintain leverage. At the same time, futures open interest fell sharply by $3.5 billion to $21 billion, suggesting that the sell-off was accompanied by a reduction in leveraged positions, not an increase in short bets. This divergence between rising funding rates and falling open interest is a classic signal that spot selling, not futures shorting, is the primary force behind the price decline. The firm believes that the market has been blaming the wrong party for the past month, with many traders incorrectly attributing the drop to aggressive short sellers. Oversold Conditions Point to Bounce Following the steep decline, Bitcoin is now technically in oversold territory, according to 10X Research. This condition often precedes a short-term price bounce as selling pressure exhausts itself and buyers step in at lower levels. The firm expects a rebound early this week, but cautions that this should not be mistaken for a broader trend reversal. The distinction is important for traders and investors. A short-term bounce in an oversold market is a tactical opportunity, not a signal that the macro trend has shifted. The broader outlook for Bitcoin remains uncertain, with macroeconomic headwinds and regulatory developments continuing to weigh on sentiment. What This Means for Traders For active traders, the analysis suggests a potential entry point for short-term long positions, but with a clear exit strategy. The oversold condition provides a technical setup for a bounce, but the underlying fundamentals have not changed. The sell-off was driven by real selling from spot holders, which implies that the market may need more time to find a solid bottom before a sustained recovery can begin. For longer-term investors, the report reinforces the importance of distinguishing between noise and signal. Short-term price movements driven by spot selling can create attractive buying opportunities, but they do not necessarily indicate a change in the broader market cycle. Conclusion 10X Research’s analysis provides a clear, data-driven explanation for Bitcoin’s recent decline and offers a tactical outlook for the coming days. The oversold condition and the nature of the sell-off suggest a short-term rebound is likely, but traders should remain cautious about extrapolating this into a longer-term bullish trend. The key takeaway is that the market’s focus on futures activity may have been misplaced, and the real driver of the decline was spot selling by investors. FAQs Q1: What is the main reason for Bitcoin’s recent sell-off according to 10X Research? The firm says the sell-off was driven by spot market selling, not aggressive short betting in the futures market. They point to rising funding rates and falling open interest as evidence. Q2: Does 10X Research expect a long-term trend reversal for Bitcoin? No. The firm expects a short-term rebound due to oversold conditions, but cautions that this should not be mistaken for a broader trend reversal. Q3: What does ‘oversold’ mean in this context? Oversold refers to a technical condition where an asset’s price has fallen sharply and quickly, often leading to a temporary bounce as selling pressure exhausts and buyers return. This post Bitcoin Set for Short-Term Rebound After Spot-Driven Sell-Off, 10X Research Says first appeared on BitcoinWorld .

8 Jun 2026, 02:50

Bitcoin Enters ‘Extremely Undervalued’ Zone, On-Chain Analyst Says: A Window for Long-Term Accumulation

BitcoinWorld Bitcoin Enters ‘Extremely Undervalued’ Zone, On-Chain Analyst Says: A Window for Long-Term Accumulation Bitcoin has entered what one on-chain analyst describes as an ‘extremely undervalued’ territory, a zone that has historically offered favorable entry points for long-term holders. According to Darkfost, a pseudonymous on-chain analyst, the cryptocurrency has retraced below the 4% quantile of the Power Law model — a price range where Bitcoin has traded for only 4% of its entire existence. Understanding the Power Law Model The Power Law model is a long-term valuation framework that maps Bitcoin’s price against its historical growth trajectory. It suggests that Bitcoin’s price tends to follow a predictable power-law distribution over time, with deviations from this trend often signaling overvaluation or undervaluation. When the price falls below the 4% quantile, it indicates that Bitcoin is trading at a level seen only in the most extreme bearish phases of its history. Darkfost emphasized that this signal is not a short-term price prediction but rather a structural indication that Bitcoin is priced below its long-term fair value. ‘This is a suitable time to build long-term positions,’ he stated, cautioning that the market could remain volatile in the near term. Historical Context and Implications Previous instances where Bitcoin traded below the 4% quantile include the depths of the 2018–2019 bear market and the COVID-19 crash in March 2020. In both cases, investors who accumulated during those periods saw significant returns over the following years. However, past performance is not indicative of future results, and the current macroeconomic environment presents unique challenges. The analyst’s comments come amid a period of heightened uncertainty in global markets, with regulatory developments, inflation concerns, and shifting monetary policy all influencing investor sentiment. For long-term holders, the current valuation may represent a rare opportunity, but it also carries the risk of further downside in the short term. What This Means for Investors For those with a long-term investment horizon, the signal from the Power Law model suggests that Bitcoin is trading at a discount relative to its historical trend. This does not guarantee an immediate price rebound, but it does provide a data-driven basis for considering accumulation. Investors should weigh this signal against their own risk tolerance and portfolio strategy. Darkfost’s analysis adds to a growing body of on-chain data suggesting that Bitcoin’s current price levels are historically attractive for patient capital. However, as with any market signal, it should not be used in isolation. Conclusion Bitcoin’s dip below the 4% quantile of the Power Law model marks a rare event in its trading history, one that has previously preceded significant long-term rallies. While the near-term outlook remains uncertain, the data presents a compelling case for strategic accumulation by long-term investors. As always, thorough research and a clear understanding of one’s investment goals remain essential. FAQs Q1: What is the Power Law model in Bitcoin analysis? The Power Law model is a long-term valuation framework that maps Bitcoin’s price against its historical growth trajectory. It suggests that Bitcoin’s price follows a predictable power-law distribution over time, with deviations indicating overvaluation or undervaluation. Q2: Does being in the ‘extremely undervalued’ zone guarantee a price increase? No. While historical precedent shows that such zones have preceded long-term rallies, it is not a guarantee. The market could remain volatile or decline further in the short term. The signal is best used as part of a broader investment strategy. Q3: Who is Darkfost? Darkfost is a pseudonymous on-chain analyst known for providing data-driven insights into Bitcoin market cycles. His analysis is widely followed within the cryptocurrency community for its focus on long-term valuation metrics. This post Bitcoin Enters ‘Extremely Undervalued’ Zone, On-Chain Analyst Says: A Window for Long-Term Accumulation first appeared on BitcoinWorld .

8 Jun 2026, 02:28

XRP Price Climbs Off Recent Lows With Fresh Upside Momentum

XRP price started a recovery wave above $1.10 and $1.1250. The price is now consolidating and might aim for a fresh move if it clears $1.1730. XRP price started a recovery wave above the $1.1250 zone. The price is now trading below $1.1220 and the 100-hourly Simple Moving Average. There was a break above a bearish trend line with resistance at $1.10 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could continue to move up if it settles above $1.1250. XRP Price Eyes More Gains XRP price remained supported above $1.050 and started a recovery wave, like Bitcoin and Ethereum . The price was able to climb above $1.10 and $1.120 to enter a short-term positive zone. There was a break above a bearish trend line with resistance at $1.10 on the hourly chart of the XRP/USD pair. The bulls pushed the price above the 23.6% Fib retracement level of the downward move from the $1.3640 swing high to the $1.052 swing low. The price is now trading above $1.120 and the 100-hourly Simple Moving Average. If there is a fresh upward move, the price might face resistance near the $1.1720 level. The first major resistance is near the $1.2080 level and the 50% Fib retracement level of the downward move from the $1.3640 swing high to the $1.052 swing low. A close above $1.2080 could send the price to $1.2150. The next hurdle sits at $1.220. A clear move above the $1.220 resistance might send the price toward the $1.2450 resistance. Any more gains might send the price toward the $1.2620 resistance. Another Decline? If XRP fails to clear the $1.1740 resistance zone, it could start a fresh decline. Initial support on the downside is near the $1.1250 level. The next major support is near the $1.110 level. If there is a downside break and a close below the $1.110 level, the price might continue to decline toward $1.080. The next major support sits near the $1.050 zone, below which the price could continue lower toward $1.00. Technical Indicators Hourly MACD – The MACD for XRP/USD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. Major Support Levels – $1.1250 and $1.1200. Major Resistance Levels – $1740 and $1.2080.

8 Jun 2026, 02:15

Altcoin Season Index Drops to 46: Bitcoin Dominance Continues

BitcoinWorld Altcoin Season Index Drops to 46: Bitcoin Dominance Continues The Altcoin Season Index, a widely followed metric from crypto data platform CoinMarketCap, currently stands at 46. This reading suggests the market remains firmly in a ‘Bitcoin season’ phase, where the leading cryptocurrency continues to outperform most alternative coins over a 90-day period. How the Altcoin Season Index Works The index measures the price performance of the top 100 cryptocurrencies by market capitalization, excluding stablecoins and wrapped tokens. It compares their performance against Bitcoin over the trailing 90 days. A score of 100 indicates a full altcoin season, while a score near zero signals Bitcoin dominance. The threshold for declaring an ‘altcoin season’ is 75 — meaning at least 75% of the top 100 coins must have outperformed Bitcoin during that period. With the index at 46, the market is clearly tilted in Bitcoin’s favor. Current Market Context Bitcoin’s relative strength in recent months has been supported by a combination of factors, including institutional adoption, macroeconomic uncertainty driving demand for digital gold narratives, and anticipation around spot Bitcoin ETF flows. In contrast, many altcoins have struggled to sustain momentum, with regulatory pressures and shifting investor sentiment weighing on smaller-cap projects. What This Means for Traders and Investors For market participants, the index serves as a useful barometer for capital rotation. A reading of 46 suggests that while Bitcoin is leading, altcoins are not entirely out of the picture — some may still be posting gains, but not enough to shift the aggregate balance. Historically, prolonged Bitcoin seasons can precede altcoin rallies, as investors eventually rotate profits into smaller assets. However, timing such rotations remains highly speculative. Broader Implications for the Crypto Market The index’s current level reinforces the view that Bitcoin continues to function as the primary store of value within the crypto ecosystem. For projects building in the altcoin space, the data underscores the importance of demonstrating fundamental value beyond speculative trading. The index is updated daily, so shifts can occur quickly if a broad-based altcoin rally emerges. Conclusion At 46, the Altcoin Season Index confirms Bitcoin’s ongoing market leadership. While the metric does not predict future movements, it provides a transparent, data-driven snapshot of market dynamics. Investors should use it as one of several tools to assess risk and opportunity, rather than a standalone signal for trading decisions. FAQs Q1: What is the Altcoin Season Index? A: It is a metric from CoinMarketCap that tracks how many of the top 100 cryptocurrencies are outperforming Bitcoin over a 90-day period. A score above 75 indicates an altcoin season. Q2: Does a low index mean altcoins are performing poorly? A: Not necessarily. It means Bitcoin is outperforming most altcoins in that timeframe. Some altcoins may still be rising, but not enough to surpass Bitcoin’s gains. Q3: How often is the index updated? A: The index is recalculated daily based on rolling 90-day performance data, providing a near real-time view of market trends. This post Altcoin Season Index Drops to 46: Bitcoin Dominance Continues first appeared on BitcoinWorld .

8 Jun 2026, 02:10

Ethereum Co-Founder Joseph Lubin: Foundation Shake-Up Is Evolution, Not Crisis

BitcoinWorld Ethereum Co-Founder Joseph Lubin: Foundation Shake-Up Is Evolution, Not Crisis Ethereum co-founder Joseph Lubin has pushed back against concerns that recent budget cuts, staff departures, and leadership changes at the Ethereum Foundation signal a period of decline for the blockchain network. In comments reported by CoinDesk, Lubin described the internal restructuring as a necessary evolution rather than a crisis. Decentralization as a Strategic Shift Lubin argued that the foundation should move toward a more decentralized operational structure, focusing narrowly on the protocol’s core technology and value management. He suggested that other organizations within the Ethereum ecosystem are better positioned to handle expansion, institutional partnerships, and broader ecosystem growth. “The work currently underway at the foundation is to separate protocol management from commercialization,” Lubin said, adding that the view that Ethereum has entered a period of decline is not true. According to Lubin, maintaining neutrality is essential for the foundation to be trusted beyond reproach. He explained that trust in a decentralized protocol is undermined when there are potential conflicts of interest between its business and development arms. This separation, he believes, will strengthen the network’s long-term credibility and resilience. The AI Narrative and the Next Wave Lubin acknowledged that the artificial intelligence narrative has recently overshadowed crypto in the broader tech industry and that digital assets are not currently leading capital inflows. However, he expressed confidence that the next major wave will be AI agent commerce—an economy where humans and machines merge, using blockchain as the underlying infrastructure. This perspective aligns with a growing belief among blockchain developers that decentralized networks will play a foundational role in the emerging AI-driven economy. Why This Matters for the Ethereum Ecosystem The Ethereum Foundation’s restructuring comes at a pivotal time for the network. As competition from other layer-1 blockchains intensifies and regulatory scrutiny increases, the foundation’s ability to adapt without losing its decentralized ethos is being closely watched by developers, investors, and institutional partners. Lubin’s comments aim to reassure the community that these changes are strategic rather than reactive, and that Ethereum remains focused on its long-term vision. Conclusion Joseph Lubin’s defense of the Ethereum Foundation’s recent changes reflects a broader effort to reposition the organization for a future where blockchain and AI converge. While short-term turbulence may continue, his framing of the shake-up as evolution rather than crisis suggests a deliberate strategy to strengthen Ethereum’s role as a neutral, decentralized infrastructure layer. For now, the community and market will be watching to see how these structural shifts translate into tangible outcomes. FAQs Q1: What exactly is changing at the Ethereum Foundation? The foundation is undergoing budget cuts, staff departures, and leadership changes as part of a restructuring effort to separate protocol management from commercialization. The goal is to adopt a more decentralized operational model. Q2: Why does Joseph Lubin believe this is not a crisis? Lubin argues that the changes are a necessary evolution to maintain neutrality and trust in the decentralized protocol. He believes the foundation should focus on core technology while other organizations handle ecosystem growth and partnerships. Q3: How does AI fit into Ethereum’s future according to Lubin? Lubin predicts that the next major wave will be AI agent commerce, where humans and machines interact economically using blockchain as infrastructure. He sees this as a natural progression that will drive future growth for Ethereum. This post Ethereum Co-Founder Joseph Lubin: Foundation Shake-Up Is Evolution, Not Crisis first appeared on BitcoinWorld .