The movement over this weekend was roughly as expected, with BTC slightly oscillating between $94K and $95K, dropping to a low of $92.8K but quickly rebounding. Currently, BTC is stabilizing around $94K.
This rebound has risen about 30%, but why hasn't it continued to rise?
Although Bitcoin has rebounded nearly 30% from its lowest point, Google search volume has remained very low. The current rise in Bitcoin is not heavily participated in by retail investors; it's mainly led by institutions.
This month's BTC price is close to closing, and it has already exceeded last week's weekly and yearly lines. If it can stabilize above $93,600 this week, the probability of a major surge in May will increase. Conversely, if it falls below this level, it may affect the opportunities for a rise in the second half of the year. Whether it can stabilize in the coming days is crucial for restoring confidence in the market.
From a daily and short-term perspective, BTC has not broken through the resistance level of $96,000, which validates our prediction about the resistance zone last week. Now there are signals of a pullback; for a short-term rise, more momentum needs to be accumulated. I suggest avoiding chasing prices at high levels, and to take profits in time to prevent being trapped.
Yesterday, Sun called out trades again 😂.
This time he specifically mentioned $JST, saying something like 'foreseeing a hundredfold increase,' and also mentioned that JustLend and USDD will provide strong support.
On April 27, Sun Yuchen tweeted that JST has completed its fundamental reversal and has the potential to become the next hundredfold coin. As soon as the news broke, JST surged 31%, and the price is now around $0.042.
It is said that JustLend is now one of the largest lending platforms, with net profits of several tens of millions of dollars, and USDD is also soaring.
There are quite a few leading players in the market now, and funds are relatively dispersed!
But to be honest, this trend has only surged for 3-5 days; even the leading coins have only increased by a little over double, while others like VIRTUAL, TURBO, and WLD are around 50%.
Aside from AI, MEME, and LGameFi sectors, most coins haven't really risen much.
The manipulators are cutting back and forth, but they haven't really made much profit.
Many people haven't really entered the market yet, or they just experimented with small amounts.
So I think this wave is likely just a short-term pullback.
It's just laying the foundation for higher gains later.
Hope those holding AI-related stocks can all make a fortune.
For those heavily invested and fully committed, let’s stick together until the end and reach the shore! 🌊
RWA remains the main line of this bull market ~
Wall Street, as the driving force behind the scenes, has the capability to manipulate the progress and rhythm of this topic.
The following chart shows the main institutions and investment data of Wall Street focusing on the RWA sector.
Overall, these 8 Wall Street institutions have a total of about $3.5 billion in tokenized assets in RWA, accounting for 19.46% of the RWA market's total value of $18 billion by early 2025.
Most of these institutions issue based on the Ethereum network, holding over 70% of the shares in RWA projects. In 2024, the RWA market grew by 117%, followed closely by Meme coins.
Although it's tough for us ordinary small investors to participate directly, there are still many opportunities in the project tokens of the secondary market.
Projects like ONDO and Plume, which have business ties with Wall Street, are good choices.
Forget OM; that's completely a scam circle.
Plume has already been included in Grayscale's investment focus report, and its RWA vault product Nest has also surpassed $50 million in TVL on the Ethereum mainnet.
As the first investment project of YZi Labs in 2025, Plume's mainnet is about to launch, which will unlock more application value of tokens.
During this pullback of Bitcoin, Plume has been relatively stable and belongs to the resilient series.
Overall, the market expects the RWA market size to reach between $2 trillion to $30 trillion by 2030.
In this industry, only by expanding the cake can we bring about more wealth effects on a track level.
GUN, this empty altcoin must have a stop loss set;
The downside of this trade was that it provided a profit margin because I went to play games and forgot to adjust the stop loss to the cost price; I still used the original stop loss, resulting in a small loss.
Profits were not closed, and it directly exploded; it's quite normal for them to move like this.
My current strategy for altcoins is to invest if possible, and if not, set a small stop loss. Caution is still necessary.
I noticed CETUS a bit late, and it started to surge immediately.
After the last surge, the consolidation was quite strong. This trend resembles how TURBO behaved after its first wave.
You can refer to TURBO's trend now, find a suitable entry point, and remember to set a stop loss.
The crypto market's 'Penguin Storm,' PENGU skyrocketed by 156%.
The PENGU token surged 30% in a single day and 156% for the week, with an FDV exceeding $1.1 billion. Its NFT series saw a trading volume increase of 242% to 2,097 ETH, and the floor price rose by 20% to 11.5 ETH. The fat penguin stands out in the Web3 space!
The K-line shows that prices have recently risen, peaking at 0.01419 today before pulling back, forming a long upper shadow bullish candlestick, encountering selling pressure. The ecological value of the PENGU token is being validated, with advantages including cross-chain expansion, a destruction mechanism, and institutional layout; risks include a 52% decline in NFT sales and intensified competition.
Today's altcoin strategy:
ENA: The price range between $0.32 and $0.33 is an ideal entry point, with good momentum to watch.
STX: Made quite a profit last week. If it pulls back to the $0.75 to $0.80 range, it could be a good entry point for buying long again.
SUI: Even with large-scale unlocks this week, the price remains strong, indicating that the bad news may have already been digested. The $3.35 to $3.40 range is a strong support area, and I suggest buying long in this range, showing the characteristic of 'the strong stay strong.'
TAO: If the price pulls back to around $340 and bounces off the downtrend line, it could be a buy opportunity.
ONDO: The current price is approaching the vacuum zone between $0.88 and $0.90, which is a good entry point.
AXS: The performance of blockchain games in this cycle has been average, but there is strong support around $2.40. If it touches this level again, it could be a short-term buy opportunity.
TRUMP: Although the fundamentals don't look good, there is still potential for swing trading in the short term. $12 is a strong support, and around $13.50 could also be considered for a risky long.
Overall, all these coins show long opportunities at the 4-hour level. I’ve looked at other coins too; although most have not fully reversed in short-term rebounds, I remain optimistic in the long-term. If you ask me 'why,' my answer is - the bull market is still on.
