Josh gives a comprehensive look at altcoins, treasury-backed crypto companies, and where the broader market may be headed. While some traders are asking if alt season is over, Josh urges caution and patience.
Key Takeaways:
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Treasury Companies Under Pressure: Crypto firms holding BTC or ETH (like MSTR, SBET, BMR) have mostly pulled back. Many look weak on the charts, and Josh advises against jumping in without clear technical strength.
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Altcoin Rally Losing Steam: After big gains over the past month, many altcoins are now consolidating or retracing. Josh sees this as normal and expected, not necessarily the end of the cycle.
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Short-Term Weakness Likely: August and September tend to be slower months. BTC dominance may rise short term as alts cool off. A broader move may resume in Q4.
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Be Selective: While most charts look shaky, a few names like BitFarms, AVAX, and Sweetgreen still show promise. Josh emphasizes focusing on relative strength and avoiding overexposure to weak setups.
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Stay Flexible: Set alerts, use stop-losses, and consider building positions slowly. Big moves may still come later in the year.
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Watch Gold: Josh sees gold setting up for a breakout. If it runs first, crypto may follow later — suggesting a rotation in Q4.
Bottom Line: The altcoin rally has paused, not ended. Josh sees signs of strength in select names, but overall urges caution, especially in the short term. October and beyond could offer better conditions.
