Currently, the price of Bitcoin is continuing to rise. Judging from the monthly line, it may soon break through the $70,000 mark. However, this is not the peak yet. In the medium term, the target price of Bitcoin is around $73,000. In the short term, although the daily trend is still upward, the strength has weakened from the 4-hour trend. It is expected that Bitcoin may have some shock adjustments in the short term, but overall, the outlook is still bullish.
In contrast, Ethereum's performance is relatively weak, mainly due to the linkage of the overall market. Currently, BlackRock's Ethereum ETF has exceeded $11 billion and is still increasing its holdings. Since July, the price of Ethereum has not been able to break through, and the main reason may be that large investors deliberately suppress the price. However, according to data analysis, once the holdings of large investors reach saturation, the price may rise rapidly. Ordinary investors can wait patiently.
Mainstream coin analysis
BNB: BNB price still follows the trend of the market and continues to rise.
XRP: The current trend of Ripple also shows a bullish trend, strongly linked to the market. We can observe whether there will be a round of rising prices in the near future.
SOL: The trend of SOL is still synchronized with the market, showing a fluctuating upward trend.
DOGE: Dogecoin has been rising for several days in a row recently, and there may be some fluctuations in the short term. However, in the medium and long term, it is still bullish. If you are a short-term investor, you can consider taking profits in the near future.
BCH: Bitcoin Cash (BCH) is still trending strongly and continues to rise in tandem with the broader market.
AR: AR's recent trend is still in a volatile consolidation stage. Investors can continue to hold it. It is expected that there will be a wave of rising prices soon.
UNI: Uniswap's trend is relatively weak, and the price has recently pulled back for a while. There may be a small rebound in the short term.
OP: Optimism is weak in the short term and still mainly follows the trend of Ethereum. If Ethereum rises, OP is expected to rise sharply as well.
Summarize
Currently, Polymarket data shows that Trump's chances of being re-elected as US president have risen to 61.3%, a new high. The US will usher in the general election in early November, and Trump's approval rating continues to rise. If he is elected, it may have a positive impact on the cryptocurrency market. Trump has publicly expressed his support for Bitcoin, which will help win the support of the US cryptocurrency community.
If a president who supports cryptocurrency comes to power during a bull market, the market is likely to usher in a new wave of rising prices. The prices of most cryptocurrencies will also take off. This may become another major positive after the passage of the Bitcoin ETF.
Therefore, the market may experience violent fluctuations before the election. If short-term investors are worried about market fluctuations, they can consider cashing out at the current high level and wait for the election results. Medium- and long-term investors can continue to hold and patiently wait for a bigger market to come.
Currently, Bitcoin is at a critical juncture of the blood-sucking market. Once it stabilizes, altcoins will usher in a large number of opportunities. We have made plans for the next round of market, with the goal of achieving 5-10 times the profit within this quarter. We will strictly implement the stop-profit and stop-loss strategy to ensure that we seize every round of hot spot rotation opportunities.
