Source: WeChat public account Peipei Suoha
The S&P 500 is on the verge of breaking through, which may drive the cryptocurrency market to soar.
The S&P 500, closely related to the cryptocurrency market, has reached a critical position where a slight upward movement would break the consolidation zone of nearly a month and also break the low of the previous correction wave. The upward space is enormous, and Bitcoin could rise to $100,000 or even more because of this.
It is worth noting that the current market shows a typical "bottom-up" pattern, just waiting for a breakthrough of the previous highs to confirm the trend reversal. For investors, a more prudent strategy is to wait for clear breakthrough signals before increasing positions, rather than recklessly using high leverage at the current critical resistance.
Bitcoin faces a key resistance test
The recent price trend of Bitcoin is also worth watching. Currently, the BTC price has rebounded to the average holding cost line of short-term holders, an area that has historically strong resistance. On-chain data shows that there have been multiple corrections at this price level before, but if it can effectively break through, the subsequent upward space is considerable.
Another positive signal is that the "whale" accounts that had been continuously selling have recently paused their selling. This change in behavior usually indicates that large funds have an optimistic outlook on the market, expecting better selling prices in the future.
XRP and SOL: Completely different market performances
To be honest, this XRP is actually a bit crazy. It usually doesn’t rise, but when it does, it skyrockets, and the spikes are quite inexplicable. There aren’t many people in Asia playing with this coin, but it’s very popular in Europe and America.
However, his only criticism is that he lacks specific applications. Look, who uses XRP for payments, right? So I prefer Sol, which has a market value similar to his, because whether it's on-chain data or daily usage, Sol is exceptionally strong.
PCE data may become a market catalyst
In just 5 days, the capital market will welcome a huge benefit, which is next Wednesday's PCE inflation data. This data looks very bullish, with market expectations that PCE will drop sharply by 0.3% from the previous value to 2.2%, and then core PCE will also plummet by 0.2% to 2.6%, both returning to normal values.
This likely means the Federal Reserve's success in combating inflation and the beginning of interest rate cuts, much of which is actually due to the crisis of tariff recession that has caused various commodities like crude oil to plummet, leading to a drop in inflation data as well. This significantly increases the probability of interest rate cuts by the Federal Reserve, which can be seen as a blessing in disguise.
4 coins that might make you rich with AI meme coins
Recently, veteran traders in the cryptocurrency circle have been spreading the word: the MCP protocol is the next "Ethereum killer narrative"! This magical protocol that can "combine AI and blockchain" is mass-producing hundredfold golden dogs!
1.$DARK: The tyrant of dark AI
2.$SKYAI: The ATM of the big players
3.$MyCryptoProtocol (MCP): The king of PPT car manufacturing
4.$PAYAI: The black market of AI
