In the past week, Bitcoin's highest price has reached above $95,000, and BlackRock's IBIT has seen a continuous inflow of funds for 9 days, increasing its Bitcoin holdings by $1.6 billion. According to yesterday's on-chain data monitoring, in the past 48 hours, whales have accumulated over 20,000 BTC.
Yesterday, the price of BTC has returned above the 200-day moving average, according to analyst @ali_charts. BTC is back above the 200-day moving average, which is a historically positive signal that usually indicates further price increases. Moreover, if Bitcoin breaks and stabilizes above $95,500, according to the MVRV pricing range, the next potential target could be $113,800.
In the past three weeks, Bitcoin has rebounded by about $21,000, which is closely related to Trump's tariff policy. The recent sharp decline in Bitcoin was due to Trump's significant increase in global tariffs. Recently, he has indicated a less aggressive stance on tariff policies, allowing the market to catch its breath.
So can Bitcoin's price break through $100,000 next? The old dog believes that breaking through $100,000 is just a matter of time. After the tariff storm passes, Trump has started to pressure the Federal Reserve to cut interest rates, aiming to increase market liquidity. If the ETF can maintain a steady inflow of funds, the market will have the support of capital, making it easier to break through $100,000. However, the higher the price goes, the greater the selling pressure it faces, especially since $100,000 is a psychological expectation for many investors and institutions. Therefore, there may be significant selling pressure at this price level, but if the market provides enough confidence, it is not impossible for Bitcoin's price to break its historical high.
In the past week, the altcoin market has also rebounded significantly. Many altcoins have risen by about 50% to 200%. However, from the historical K-line perspective, many altcoins are still at stage bottoms. A large part of the reason is that some altcoins have ongoing token unlocks since their listing, while some projects have run away, turning into community governance and lacking large capital support. Additionally, some altcoins were listed solely for profit, resulting in heavy losses for retail investors as they faced delisting shortly after listing. Therefore, at this stage, aside from a few leading MEME coins, making money with other altcoins relies entirely on personal luck.
In terms of mainstream coins, ETH is a strongly discouraged mainstream coin in this bull market. ETH has actually died in the death spiral of LUNA during the last bull market. The reason its market value is so high now is that a skinny camel is bigger than a horse. The price of ETH has not broken through its historical high in this bull market, and even Ethereum's founder Vitalik Buterin thinks the price of his ETH is too high and needs to drop significantly to make it more affordable for more people. Such an outrageous statement guarantees that Ethereum will not achieve much.
At this stage, the bull market is more than halfway through. Is there still an opportunity to enter? The old dog believes that there are still opportunities to enter at this stage. Mainstream public chains like SOL and popular MEME coins such as PEPE and DOGE have rebounded significantly during this time, especially PEPE. In the video I posted earlier, I included a PEPE share, detailing the accumulation positions and spot suggestions that allowed friends who bought PEPE recently to earn quite a bit. PEPE is just one of the recently recommended coins that have risen significantly; other greatly rising coins have also been recommended in the spot group. Recently, I advised everyone to replace most of their altcoin positions in hand; after all, if you are wrong, you are wrong. If you don’t change tracks, you might miss the upcoming post-bull market trend.
That's all for today, thank you all for your long-term support for the old dog~
