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In the shadow of the digital colossus, Bitcoin has turned its back on its lesser kin, leaving altcoins to flounder in a sea of uncertainty. The sacred texts of on-chain analysis whisper of doom, while the prophets of the blockchain scribble their dire prophecies on the walls of X.
Why Traders Should Brace For Impact
On July 18, the oracle Joao Wedson, founder of Alphractal, unveiled his grim vision: Bitcoin’s price, that fickle flame, may soon sputter out. His revelations? A trio of metrics, each more enigmatic than the last, suggesting that the market’s long positions are as fleeting as a dream. “Shorts have been liquidated,” he mused, “but who can say if this is the end or merely the beginning of the end?”
The correlation heatmap, that ancient oracle, reveals a rift between Bitcoin and its altcoin brethren. “Decoupling!” cries the analyst, as if the market itself has grown weary of Bitcoin’s monologue. Meanwhile, the Altcoin Season Index, that sly fox, rises—though history warns that such a rise may be a prelude to a Bitcoinian apocalypse.
Wedson’s Alpha Quant Signal, that cryptic riddle, flashes a sell. “Whales,” he sighs, “have sold their treasures, leaving the market to tremble.” One can almost hear the sound of coins clinking in the void.
Outlook For The Altcoins
Yet amid the chaos, Wedson offers a flicker of hope. “This is not the final descent,” he declares, as if speaking to a crowd of desperate gamblers. “But beware the traps!” The market, that fickle mistress, now dances to a new tune, while Bitcoin languishes at $117,783—its pride wounded, its power waning.
Ethereum, the “king of altcoins,” dares to rise, a defiant spark in the darkness. But will it be enough to stave off the inevitable? Only the blockchain knows—and it’s keeping its secrets close. 🧙♂️📉💸