The Alt Szn Fuze Was Lit Today

Written by Jason Krutzky, Chartered Meme Technician at Spot Trading.

Hello Friends,

Wow. What a day. 

To be honest, I'm kind of speechless. While I always hope for the best, lately, I've definitely been planning for the worst, and today's action has completely exceeded all of my expectations. 

Of course, I'm talking about my dev, Jerome Powell, his remarks at Jackson Hole, and how they're sending the markets into orbit. 

What Powell Actually Said (And Why It Matters)

If you've spent any time on X today, you've probably already read a ton of hot takes. If not, you're probably wondering what exactly he said that caused the markets to rip so hard.

Here are the broad strokes:

• Rate cuts are back on the table: He suggested that 'the balance of risks has shifted enough that a rate cut could come soon', potentially as early as the September Fed meeting. He didn't commit to timing, but the market certainly is acting like he did. 

• He sees two key challenges: Inflation remains above the Fed's 2% target (partly because of tariffs), and the labor market is cooling, with slower hiring and wage growth.

• He thinks tariff inflation is temporary: He called tariff-driven inflation a likely one-off increase, not a steady trend. They're watching closely, but not panicking.

• He announced a policy framework reset: Instead of letting inflation run hot to offset previous undershooting, they are returning to 'flexible inflation targeting'. They're also adjusting employment language so that strong job growth isn't seen as inflationary. 

• He stressed Fed independence: He is not making this decision because of pressure from the White House. 

  
  

All in all, this is pretty damn bullish if you ask me.

What Does This Have To Do With Memes?

Now I know you're here to read about memes, so what does this have to do with them? Well, it appears that risk is back on the menu, in a serious way.

As I'm writing this:

• $ETH is now within a few dollars of all-time highs (and will probably be above them before this letter goes out in a few hours.)

• $SOL is up nearly 10% on the day

• $BTC is up almost 4% on the day

• Alts and memes are firing back with a vengeance

  
  

My timeline is absolutely euphoric, and I think it's warranted.

Truth is, the past few weeks have felt sketchy af. The majors were firing pretty important warning signs, and the trenches, outside of a few pockets of strength, have been absolutely riddled with landmines. My accounts have been taking hits, and I know many of yours probably have, too.

The big question now: Is this move real, and if so, how should I be positioned to best capitalize going forward? 

How I'm Playing This Move

First things first, I really don't care about BTC. Yes, I understand its importance, but BTC dominance has been falling off a cliff for weeks, and I simply am disregarding all the calls for $250k, $500k, $1m BTC. I really don't think we come close to those prices any time soon.

My very smart analyst friend, Louis, even went so far as to suggest recently that BTC dominance has topped forever. 

That's a big statement, and one that I don't take lightly. 

So my focus now is really on ETH, SOL, and all of the coins (alts and memes) within those two ecosystems. 

ETH & SOL, Alts & Memes

ETH is the normie-tradfi coin this cycle. It's as simple as that. Once it has confirmed above all-time highs, it's in blue sky territory and literally anything can happen. 

For perspective: when ETH broke its 2017 high in 2021, it ran 243% in 10 months, from $1,400 to $4,800. With the right tailwinds, particularly rate cuts and normie onboarding, a similar move could easily happen again. I'll let you do the math on where ETH is 243% from here. 

What I'm watching: How ETH handles these all-time highs right now.

Bearish Scenario: It simply wicks through and fails. That would be no bueno.

Bullish Scenario: A strong push higher on massive volume with zero chill—just yeeting higher for days with minimal pullbacks.

For SOL, I've been using $188 as my key resistance level for months. Breaking and holding above this level is huge, and just like with ETH, I want to see continued strength with minimal pullbacks.

The thing to remember about SOL is that when it gets going, it can move faster than any other major, so if this move is real, I think SOL is back to all-time highs faster than anyone can imagine. 

⚠️ Warning sign: If we fall back below $188, that's bad news for both SOL and SOL memes.

The Takeaway: The Alt Szn Fuze Was Lit Today

Here's the bottom line: If ETH and SOL start making the powerful moves I've described above, then I think it's safe to say that the alt szn fuze was lit today. 

If that's true, then things around here are about to get very exciting.

• Opportunities everywhere

• Many coins will go absolutely crazy

• We will all have a chance to secure our financial freedom

  
  

My advice to you now is to lock the fuck in. They tried to scare you out, they tried to wear you out, and the next thing they'll do is not give you a dip to buy.

If you've been watching this space closely, reading these newsletters, and taking notes on the ideas I've shared thus far...

Then NOW is the time to start taking positions in the coins you feel the strongest about. 

If I'm right, and alt szn is actually here, things are going to escalate quickly, and you do not want to be sidelined. 

Let's see how the next few days shape up, and I'll hit you guys with a full overview on Sunday. 

P.S. What coins are you most excited about right now? Hit me up at Jasonk@spot.dog and let me know—I read every response.