The Wave Report #10 - The rotation begins

Reading time: 4 minutes

A month ago, I published Wave Report #5 where I outlined 5 macro triggers that always show up before a major altcoin rally.

At the time, most people were still in disbelief. Altcoins were flat. Sentiment was dead. Bitcoin was in full control.

But macro doesn’t lie. The rotation is starting to show.

Let’s check back in on the 5 triggers and see where we are today.

Trigger 1: BTC Dominance is falling

→ Scenario 1 is getting more likely

THEN: BTC.D was sitting right at the trendline, undecided.

NOW: We’re at the final inflection point.

What we’re seeing:

We’re standing at a critical crossroads.

Bitcoin dominance just kissed the trendline and now the entire altcoin market is holding its breath.

Because what happens next decides how the rest of this cycle unfolds.

Right now, two clear scenarios are still in play:

🟣 Scenario 1 – The instant rejection
Bitcoin dominance fails to reclaim the trendline.
The RSI rolls over.
And the macro divergence is confirmed.
→ That’s the green light. Capital begins rotating into altcoins.
→ ETH outperforms. Momentum shifts.
→ Altseason is no longer a maybe, it’s here.

🟠 Scenario 2 – BTC reclaims control
Bitcoin rallies aggressively toward $130K.
Dominance holds the trendline and spikes higher, pushing toward the orange resistance zone.
→ RSI pushes up again.
→ Alts lag.
→ We get one final BTC impulse before the rotation kicks off in full force.
That’s the slow burn altseason, the kind that erupts after Bitcoin tops.

Both price and RSI are flashing signals.
This is the inflection point.
And whichever way it breaks...
It’s going to move fast.

Trigger 2: BTC/ETH RSI breakdown

→ ETH leads phase has begun

THEN: RSI was weakening. ETH/BTC was hanging on by a thread.

NOW: The breakdown is confirmed.

What we’re seeing:

RSI has broken below its moving average, just like it did in 2019 before ETH outperformed

Price lost the parabolic uptrend after a massive rally

This is the same structure we saw before the last altseason: → BTC led the market → Then ETH reversed the trend → Then capital flooded into altcoins

We’re now entering the ETH leads phase, historically the prelude to a full-blown altcoin rally.

Trigger 3: USDT Dominance is falling and altcoins are waking up

→ Liquidity is flowing back in

THEN: USDT.D was retesting its breakdown.

NOW: Clear rejection and free fall

What we’re seeing:

This is the third identical breakdown of USDT.D in this cycle.
Every time it happened? Altcoins ran.

🔹 When stablecoin dominance drops, money is leaving the sidelines
🔹 That money needs a new home and it’s flowing into alts

This is a capital rotation signal.
Not a maybe. A confirmed move.

Risk appetite is rising.
Altcoins don’t need permission to run, the fuel is already here.

Trigger 4: TOTAL3 breakout confirmed - acceleration begins

→ The acceleration has started

THEN: Price was squeezing under resistance.

NOW: Breakout confirmed and it’s pushing higher.

What we’re seeing:

TOTAL3 (all altcoins excluding BTC & ETH) has broken out of the rising channel.
That’s now 3 times this cycle:

🔹 OCT 2023: breakout → altcoin rally
🔹 NOV 2024: breakout → altcoin rally
🔹 JULY 2025: breakout → altcoin rally?

Every time this structure appeared, alts exploded.

And this chart doesn’t track one coin, it tracks capital rotation across the full altcoin market.

We’re now in the acceleration zone:
BTC → ETH → large caps → mid caps → small caps.

This is how it starts.
TOTAL3 breakout = capital is rotating = altseason is heating up.

Trigger 5: Others/BTC reversal: rotation is kicking in

→ Late stage alt rotation is underway

THEN: Structure was forming. No confirmation yet.

NOW: The bounce is here.

What we’re seeing:

🔹 The macro trendline from 2017 and 2021 is holding
🔹 Monthly candle is bouncing exactly where it should
🔹 Stoch RSI is curling up from oversold
🔹 Structure is nearly identical to previous altseasons

This chart shows the altcoin risk curve is activating.
The top 10 coins lead, then the rest follow.

What to watch now:
→ Continuation from the trendline
→ Acceleration across mid and small caps
→ Full activation of the “everything pumps” phase

Others/BTC is turning.
And when this chart moves, the market gets loud.

Final take – The rotation begins

We talked about this moment weeks ago.

Back then, it was just a setup.
Now, it’s unfolding, one trigger at a time.

✅ BTC dominance is stalling
✅ USDT dominance is breaking down
✅ TOTAL3 broke out
✅ OTHERS/BTC is bouncing
✅ The macro structure is shifting

This isn’t noise. It’s a transfer of capital.

Rotation is not a single event, it’s a sequence.
It starts slow, then accelerates. One by one, the signals flash.
Then suddenly, everything moves.

Altseason isn't coming.
It's beginning.

See you next week,

— CrypFlow