Lark Davis highlights a rare phenomenon in the ongoing Bitcoin bull market: exchange reserves are plummeting while prices climb - a pattern not seen in past cycles. Unlike prior bull runs, where coins flooded exchanges for selling, this cycle sees Bitcoin moving off exchanges into long-term storage. Davis attributes this trend to massive demand from ETFs, institutions, and even rumored nation-state buyers.
Bitcoin's price nears $100K, with Davis forecasting potential highs of $200K–$250K. He dismisses concerns of a market top, suggesting the bull market has several months to run. The crypto market's "extreme greed" index and rising app rankings (like Coinbase and Phantom Wallet) indicate a growing wave of retail interest.
On altcoins, Davis notes significant action in meme coins and Solana's ecosystem. Meme coins like Bonk and Popcat dominate, with Bonk recently surpassing Bitcoin in trading volume on Coinbase. Solana itself is just 10% shy of all-time highs, with its ecosystem outperforming Ethereum in decentralized exchange trading volume. Davis also points out Avalanche's partnership with Saudi Arabia to create the nation’s first layer-one blockchain, signaling further institutional interest.
Meme coins remain a focal point, with their combined market cap reaching $94 billion. Davis predicts this could grow to $500 billion if the crypto market hits a $10 trillion valuation. He emphasizes the speculative and risky nature of meme coins but acknowledges their potential for outsized gains.
Finally, Davis briefly touches on infrastructure plays like Chainlink, highlighting its potential to rally in line with other technical altcoins.
