$BTC Strong continuation into the weekend. We are losing the spot premium that was there earlier.
This does not have to be an issue directly but it does show there is some more froth (longs) coming in relative to the spot bid.
Generally you want to not go into that direction too quickly otherwise you might overheat which eventually leads to a flush of longs.
Going to be an interesting week next week.
Each cycle is different in its own way.
2016-2017 run up was basically up only with some sharp 30-40% corrections every few months. Alts mostly ran at the very end.
2020-2021 was up only with a big summer correction in between. Different sectors did well at different times. The Layer 1s were good bets in general. But these also saw a lot of volatility.
2024-2025 is defined by the massive difference in performance by coins & sectors. $BTC & $SOL were one of the few solid buy & hold coins throughout the cycle so far. Most other coins underperformed or had short periods of outperformance followed by underperformance.
The market is still lacking the liquidity and attention it needs for more coins to move at the same time. It's just a liquidity rotation and PvP between the next new hot thing.
Concentrated bets on strong coins are good to have this cycle, but you'll have to actively manage it because before you know it, last week's hot coin is already down 50%+.
Alternatively, just being heavily exposed to $BTC and other majors you think are good, is usually a good passive approach.
$BTC Opened up with a small CME gap around ~$105K.
Markets sold off right from the futures open when equities started trading down due to the China OpenAI competitor fears.
I wouldn't personally value this gap too much just yet, seeing price is 5%+ away from it as we speak.
Generally these get interesting when price trades within like a ~2% proximity, at that point the gap fill can become a bit of a self fulfilling prophecy which tends to get filled.