Prominent crypto analyst and trader Rekt Capital has evaluated the current state of Bitcoin (BTC), Solana (SOL), and the broader altcoin market, sharing his latest predictions and issuing some warnings about the crypto market’s trajectory.
Rekt Capital alerted his social media followers that Bitcoin is approaching a critical moment. He suggested that a daily and subsequent weekly candle closure above the recent bottom level would confirm the recovery. Current data shows BTC has risen by 4.19% in the last 24 hours, trading above the mentioned support level.
The analyst highlighted the potential impact of a Bitcoin surge on the altcoin market cycle, suggesting an altcoin hype cycle could occur in the first quarter of the year. Despite Bitcoin’s short-term volatility, he advised investors not to let it cloud their outlook for the coming weeks.
Delving into the altcoin hype cycle, Rekt Capital shared a significant chart and questioned whether an increase in altcoin hype is imminent. He noted that low excitement presents the highest financial opportunity, while high excitement carries the greatest financial risk.
Focusing on Solana (SOL), the analyst expects a slight pullback before its rally continues. He observed that SOL has followed its projected path well, rising 15% since reaching the green zone.