The cryptocurrency market is showing signs of a significant shift in momentum. While Bitcoin holds strong above $118.800 after smashing its previous all-time highs, on-chain data reveals that a wave of profit-taking has begun, prompting traders to look towards high-performing altcoins like Ethereum (ETH) and Solana (SOL) for the next wave of growth.
Bitcoin Bull Run Meets Resistance
After a euphoric rally that saw Bitcoin push past $122.000, analysts are urging caution. According to a report from the on-chain analytics firm Glassnode, key indicators are beginning to flash “overheated,” suggesting the market may be approaching a near-term peak.
The data points to short-term holders—investors who have held Bitcoin for less than 155 days—cashing in on substantial unrealized gains. One key metric tracking their profitability breached a threshold that has historically preceded market tops.
While analysts note this doesn’t guarantee the bull run is over, they describe it as the “first wave of excessive profit-taking” in a process that often unfolds in stages. The next major resistance level for Bitcoin is now projected to be around the $130.000 mark.
The Altcoin Rotation: ETH and SOL Break Out
As Bitcoin’s upward momentum appears constrained, capital is visibly rotating into other major blockchain networks.
• Ethereum (ETH) has been a primary beneficiary, surging over 7% in the last 24 hours to trade above $3.400. This impressive performance is being fueled by strong inflows into its recently approved spot ETFs and steady demand from corporate treasuries.
• Solana (SOL) also captured the market’s attention with a 5% gain. The rally was bolstered by news that institutional powerhouse Galaxy Digital accumulated $55 million worth of SOL, withdrawing the tokens from centralized exchanges in a strong show of conviction.
This rotation suggests that while traders remain bullish on the crypto space, they are diversifying their positions away from a potentially peaking Bitcoin and into assets they believe have more immediate upside potential.
Coinbase Rebrands for a Mainstream, On-Chain Future
In a major strategic move, crypto exchange giant Coinbase has officially rebranded its self-custody “Wallet” product into the “Base App.”
The announcement confirms industry speculation and positions the app as the central gateway to the Base ecosystem. This isn’t just a name change; it’s an ambitious pivot to create an all-in-one “super app” for the decentralized web, integrating:
• Secure crypto storage
• Integrated chat and payment features
• Trading capabilities
• A marketplace for decentralized mini-apps
This move aims to build a user-friendly platform that can attract mainstream users to the on-chain world, establishing Base as a more open and independent ecosystem beyond the core Coinbase brand.
Global Market Quick Takes
| Asset | Movement | Key Driver |
| Bitcoin (BTC) | Holding near $118.000 | Profit-taking pressure is meeting hopes for a Fed rate cut. |
| Ethereum (ETH) | Trading above $3.400 | Strong ETF inflows and the GENIUS Act’s progress are fueling gains. |
| Gold | Rebounded to $3.350 | A weaker dollar and speculation on dovish Fed policy revived interest. |
| Nikkei 225 | Fell 0,6% | Renewed threats of a 25% U.S. tariff on Japanese imports spooked investors. |
| S&P 500 | Up 0,3% | Markets calmed after President Trump stated he was not planning to fire the Fed Chair. |
Disclaimer: This article is for informational purposes only and should not be taken as financial advice. Always conduct thorough research before making investment decisions.
