UPDATE: X will NOT offer Crypto and Bitcoin trading directly to its users.
X head of product Nikita Bier has clarified that the platform will not handle trade execution or act as a brokerage.
Instead, X is building Smart Cashtags financial data tools that let users view live prices, charts, and asset information directly from the timeline. Any Buy/Sell actions will redirect users to external brokers or exchange partners for execution.
ALTCOINS MAY HAVE ALREADY BOTTOMED AGAINST BITCOIN.
After 12+ months of downside, broken charts, and collapsing sentiment, the structure under the Altcoin market is starting to shift.
The Others Dominance chart which tracks how altcoins perform relative to Bitcoin is flashing early signs of recovery.
Here’s what’s happening right now:
Others dominance has already reclaimed the levels we saw before the October 10th crash.
But, Bitcoin is still trading roughly 42% below its highs from that same period.
So while BTC is still structurally weak, Altcoins are already stabilizing and gaining relative strength. This divergence usually signals seller exhaustion.
If alts were still in heavy distribution, dominance would keep falling.
But it isn’t.
Instead, it has risen 17% in just the last two months which means the forced selling phase in alts may already be behind us.
We saw a similar setup in 2019-2020.
When the Fed ended QE, Bitcoin continued correcting for months. But the Others dominance bottomed and never revisited those lows again, not even during the March 2020 crash.
That marked the start of a multi year alt uptrend. Now add more bullish signals on top:
• RSI on Others dominance has crossed above its moving average for the first time since July 2023, historically this crossover has preceded alt strength phases.
• Russell 2000 just broke its highs after a delayed cycle, small caps often lead liquidity rotation before altcoins move.
• ISM has climbed to 52, highest in 40 months. A move above 55 historically aligns with strong performance in high-beta assets like alts.
• Core inflation just printed a 5-year low which could increase the odds of more Fed easing.
• Gold and Silver rallies are cooling and often this leads to a rotation from hard assets to risk assets.
Structurally, the market is reset:
Most altcoins are still down 80–90%. Leverage has been flushed. Sentiment is near cycle lows. Positioning is extremely light.
Historically, mid-term election year has been bearish for the crypto market, so it's possible that we could see more sideways accumulation until Q3/Q4 before a reversal.
Sam Bankman’s FTX invested $500M in Anthropic and today that stake would be worth $30 BILLION, a 60x return.
Anthropic just raised $30B at a $380B valuation, one of the largest private software rounds ever. FTX entered at around a $2.5B valuation but was forced to sell during bankruptcy near an $18B valuation for just $1.5B.
That’s nearly $28 billion in missed upside from a single investment. For perspective, FTX’s bankruptcy hole was about $9 billion.
Meaning the Anthropic stake they sold early would today be worth multiple times that gap and almost as much as FTX’s own peak company valuation.