Bitcoin (BTC) is positioned once again, above $ 87,000.
As cryptootics explained it minutes ago, the climb is explained by the optimistic expectations for April 2day in which news about tariffs to imports established by US President Donald Trump will be known.
Cryptocurrencies, as usual, dance to the rhythm of Bitcoin. And, due to its lower market capitalization, the volatility of the Altcoins is much greater than that of BTC, so its ups and downs are usually percentage higher.
At the time of this publication, SPX6900 (SPX) is leading La climb week within the Top 100 per market capitalization With a rise close to 60% in the last 7 days. They are followed by Hyperliquid (Hype), Bonk (Bonk), Render (Render) and EOS (EOS).
From the point of view of the technical analysis, with this climb the memecoin spx returns to an area of historical lateralization.
In the past, SPX has passed months within the yellow painted area in the image below:
At the time of this publication, SPX Cotiza at 0.62 dollars. The next price objective for SPX should be overcome with approximately 0.90 dollars. If this occurs, it would leave the lateralization zone and be enabled to go to the maximum price area above 1 dollar.
The HX6900 climb is mainly explained by the support of its community. This is one of the memecoins that analyst Murad Mahmudov calls «cult.» Mahmudov is the main defender of SPX and usually asks their holders to «stop trading and create in something.»
According to Mahmudov and many of his followers, SPX6900 could have a market capitalization exceeding 100,000 million dollars (which would make it more valuable than BNB in its current price).
SPX6900 is considered a cryptocurrency tribute to the S&P 500 due to its name and symbolism. He «SPX» makes direct reference to the American stock market index S&P 500which brings together the 500 largest and most representative companies of the United States economy, such as Apple, Microsoft and Amazon.
By adopting this name, SPX6900 seeks to evoke the idea of greatness, stability and relevance, but with a disruptive turn of the world of cryptocurrencies.
Unlike S&P 500, which is backed by the real performance of companies, SPX6900 has no underlying economic foundations beyond its community and narrative.