Top 8 Bitcoin Ecosystem Altcoins, Including Stacks (STX) and ORDI, Poised for a ‘Big Move’ Once BTC Hits All-Time High
In a tweet thread, Mags, a crypto analyst, shed light on the potential ripple effects within the cryptocurrency market, particularly focusing on altcoins tied to the Bitcoin ecosystem. Mags notes, “Once Bitcoin breaks its ATH the biggest runners would be #Altcoins within the Bitcoin ecosystem… looking solid and ready for a big move.”
Mags’s insight highlights the interconnected nature of digital currencies, suggesting that the strength of Bitcoin could serve as a catalyst for notable performances among these selected altcoins, underscoring the importance of strategic positioning in the volatile cryptocurrency landscape.
What you'll learn 👉
1. Stacks (STX)
Mags highlights Stacks (STX) as a Bitcoin layer-2 solution that leverages Bitcoin as a secure base layer. STX has broken through major resistance levels and printed a new all-time high lately. The analyst notes that the current consolidation looks like a bullish retest, suggesting higher prices could be on the horizon.
2. ORDI (ORDI)
ORDI, the first token deployed on BRC-20, is on Mags’ radar for those bullish on the BRC-20 ecosystem. With a market cap above $1 billion, ORDI is currently trading within a triangle pattern, and the analyst expects a breakout soon.
3. ALEX (ALEX)
Building decentralized finance (DeFi) on Bitcoin, ALEX has broken out above its all-time high and has confirmed the previous record as support. Mags believes the current consolidation looks bullish, and a pump from here wouldn’t be surprising.
4. Spatial (SPACE)
Spatial (SPACE), a fair-launch Bitcoin layer-2 solution, is currently trading within a range. Mags suggests positioning near the range low or after a deviation followed by a reclaim, as the analyst expects SPACE to run towards the range high and break out soon.
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Show more +5. Bitcoin Virtual Machine (BVM)
As the first modular blockchain that allows users to launch their own Bitcoin layer-2, Bitcoin Virtual Machine (BVM) has a similar setup to ALEX and STX, according to Mags. With BVM holding nicely above its all-time high, the analyst anticipates higher prices.
6. sSNC (SSNC)
Mags considers sSNC, the first permissionless protocol for cross-chain inscription, as a top pick. With non-fungible tokens (NFTs) being a significant trend in the previous cycle, the analyst expects the inscription market to follow suit, and SSNC, currently trading at a $9 million market cap, could potentially reach $1 soon.
7. ORNJ (ORNJ)
Offering DeFi on Bitcoin, ORNJ has already had a nice run in the past few months. Mags believes ORNJ is in a re-accumulation phase after a rally and still has upside potential. The analyst notes a potential Cup & Handle pattern forming, suggesting a massive breakout could be imminent.
8. Threshold (T)
Threshold (T), which allows users to bridge their Bitcoin and start earning, has broken out of a massive double-bottom pattern, indicating the end of the downtrend. Mags states that T is currently retesting the point of breakout and looks ready to pump hard.
As Bitcoin approaches new heights, market participants will closely monitor these altcoins within the Bitcoin ecosystem for potential explosive growth, as highlighted by the analyst Mags.
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