Bitcoin price action correlates with the rest of the market, at least at the minute, before we start to see dominance breakdown

The latest webcast from the market commentator known as Crypto Insight UK centres on a single contention: the technical and fundamental backdrop for XRP now mirrors the pre-euphoric

Crypto Insight UK, a market commentator known for his technical analysis and market commentary, provides a brief overview of the crypto market.

Bitcoin price action is still correlating with the rest of the market, at least for the minute, before we start to see dominance break down. Last week's candle closed as the highest weekly candle ever for Bitcoin, but crucially, we didn't get the weekly RSI to enter overbought.

Usually, in previous cycles, when the RSI enters overbought, that's when we start to get this mania push-up in Bitcoin price, which pulls alt-coins with it. For example, when we got the weekly RSI into overbought, that's when we went from fifty-cent up to $2.70 in the space of like four weeks.

Bitcoin is now densely clustered around the $130,000 level and lower at $100,000 and $93,000. So, if we do get a pull-back into this $100K level, I will start to heavily position in leverage in altcoins.

And if we get a deeper flush to $93,000, I will continue to add to my positions.

The way I see it, we're in a self-reinforcing liquidity cycle, where each test of overhead supply is squeezing shorts, price is consolidating, fresh liquidity is building at the new ceiling, and the pattern repeats until a catalyst propels Bitcoin into the next tranche.

A sustained move through $130,000 would likely be that catalyst and would probably mark the formal start of alt-season.

XRP is pushing out of what I call a Wyckoff accumulation range, breaking structure to the upside, and now finding support on previous resistance inside a broad bull-flag.

On the weekly ratios—XRP/Bitcoin, XRP/Ether and XRP dominance—momentum is quietly inflecting. We're starting to get bullish divergences, which is where we see higher lows on the RSI and lower lows in price action, which is telling us the sellers are running out of steam.

We can also see XRP price breaking a descending trend-line, which will open the door for an aggressive move back to the upside for XRP.

When will XRP hit $12?

The latest webcast from the market commentator known as Crypto Insight UK centres on a single contention: the technical and fundamental backdrop for XRP now mirrors the pre-euphoric set-ups that propelled the token from $0.50 to $2.70 in four weeks during 2021, and it could drive a surge “towards eight, nine, ten, eleven, twelve dollars in the very short term.”

The analyst began with Bitcoin, because “Bitcoin price action correlates [with] the rest of the market, at least at the minute, before we start to see dominance breakdown.” Last week’s candle, he notes, was the highest weekly close ever recorded by the benchmark asset, yet—critically—the weekly relative-strength index has not entered the overbought zone.

In prior cycles, the RSI’s passage into that territory “is when we start to get this mania push-up” that drags alt-coins with it. XRP’s own history is invoked as corroboration: “When we got the weekly RSI into overbought, that’s when we went from fifty-cent up to $2.70 in the space of like four weeks.”

The analyst then drills into order-book heat-maps. Above Bitcoin price lies what he calls a “dense liquidity” cluster, most prominent around $130,000. A matching reservoir sits below, first at $100,000 and then at $93,000. “If we get a pull-back into this $100K level, I will start to heavily position in leverage in altcoins,” he tells viewers, adding that a deeper flush to $93,000 would see him “continue to add to my positions.”

The market, he argues, is trapped in a self-reinforcing liquidity cycle: each test of overhead supply squeezes shorts, price consolidates, fresh liquidity builds at the new ceiling, and the pattern repeats until a catalyst—a macro loosening of money, a geopolitical shock, or a technical breakout—propels Bitcoin into the next tranche. A sustained move through $130,000, he contends, would likely be that catalyst and would “probably” mark the formal start of alt-season.

XRP is being examined through a similar lens. Price has pushed out of what he labels a Wyckoff accumulation range, broke structure to the upside, and is now "finding support on previous resistance" inside a broad bull-flag. On the weekly ratios—XRP/Bitcoin, XRP/Ether and XRP dominance—momentum