As Bitcoin struggles near key support levels and bearish sentiment spreads across the crypto market, one analyst says the latest wave of “Bitcoin is dead” headlines may actually be signaling opportunity for altcoins rather than danger.
According to him, several altcoins are quietly gaining momentum and could be among the biggest winners if the market stabilizes.
The analyst also believes the upcoming SpaceX IPO could indirectly benefit crypto.
While SpaceX has no direct involvement with crypto projects, he argued that rising risk appetite and new wealth creation could flow into fast-growing blockchain sectors.
One project attracting attention is Hyperliquid. The decentralized trading platform continues setting new open-interest records and recently surpassed $3 billion in real-world asset open interest. The analyst also pointed to Coinbase becoming the official deployer of Hyperliquid’s USDC treasury wallet as another bullish development.
Another project making headlines is Bittensor (TAO). The analyst described it as one of the strongest decentralized AI plays, benefiting from growing excitement around artificial intelligence. Unlike centralized AI firms such as OpenAI, Bittensor allows anyone to participate in and own part of the network. Several AI-focused applications are already building on the ecosystem.
The analyst also pointed to Ethereum as a potential winner if regulatory clarity improves.
More than 200 crypto companies recently backed the CLARITY Act, urging lawmakers to advance the legislation. At the same time, Ethereum staking reached a record 32.3% of total supply.
Interestingly, only about 11% of the ETH supply currently sits at more than 3x profit, one of the lowest readings since 2017. Historically, similar conditions have appeared near major market turning points.
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