On Monday, Bitcoin rebounded strongly to $95,490, with a daily increase of 0.8%. Market sentiment heated up due to Trump's upcoming centennial speech, with investors expecting him to propose crypto-friendly policies, prompting a reallocation of funds. Bitcoin fluctuated between $92,953 and $95,490 that day, maintaining recent upward momentum, with a weekly increase of 8.9%, and a nearly 15% rise over the past 30 days. The market's focus is on whether Trump will explicitly propose policies regarding Bitcoin as a strategic reserve.
From a technical perspective, Bitcoin's monthly chart is about to close, currently showing a long lower shadow and a bullish candle, suggesting the possibility of a short-term rise followed by a pullback. Yesterday, prices fluctuated narrowly around $95,000, with trading volume dropping to levels seen in early April. If this volume contraction continues, the subsequent market may face the risk of a correction.
Regarding Ethereum, the monthly chart has closed red for five consecutive months, and this month is forming a doji pattern, with the lowest price approaching the 2022 low, indicating limited downward space, suggesting it may have entered a bottoming and accumulation phase. Yesterday, Ethereum once again challenged the $1,850 resistance level; although it did not manage to stabilize, the bottom is consistently rising, indicating potential for an upward breakout in the short term.
Regarding altcoins: altcoins have overall entered a phase of staged adjustment after the rise, having undergone a significant pullback over the past week, and are currently forming a key support area below. Pay attention to controlling the rhythm and positioning, focusing on defense, and prefer to buy low rather than chase high.
The hottest topic in the market today is undoubtedly the meme coin $MIKAMI!
Yua Sato announced yesterday the launch of the meme coin $MIKAMI, which raised over 13,000 SOL in just four hours at the presale address, surpassing a market cap of $2 million, with the presale continuing for 72 hours.
She explained on the X platform that token distribution will be determined by the total fundraising amount divided by the total number of tokens, with no fixed quota set. It is worth mentioning that the local meme coin 'Betel Nut Coin' from Taiwan also transferred 5 million coins to that address, suspected to attract community attention.
ALPACA surged 17 times in six days, should we chase it?
Recently, ALPACA skyrocketed 17 times in just six days, sparking heated discussions in the market. Despite the astonishing rise, only those who positioned early, like the 'ant warehouses', could truly capitalize on this wave. Most latecomers tend to engage in short-term speculation, entering at breakout points and exiting for profit, following a fast in-and-out strategy.
However, there are very few who dare to hold onto a cryptocurrency that has been in a continual decline for three years, constantly setting new lows. Most people are either deeply trapped or have already cut losses and exited. Although this sudden surge looks impressive on the surface, it resembles a typical 'distribution market' more than anything.
There are two common mindsets in the market: one is that the old investors finally 'break even' but are reluctant to exit due to greed; the other is that new retail investors are blindly chasing the rise, ignoring risks. This rally could very likely be a trap set by the main players to attract buyers.
For cryptocurrencies with such aggressive trends, risk control must take priority.
Remember: coins that rise too sharply are most likely to 'give birth to shadows'!
Is Trump about to release a coin again?
Waking up today to the news that 'Truth Social is going to release a platform token' is truly bittersweet. Trump seems to treat the crypto world as an ATM, from meme coins to ICOs, stablecoins, and blockchain games, even bringing his family along to release coins, and now he wants to launch a so-called wallet coin. Frankly, I do not have high hopes for this project.
Many people fantasize that it can replicate the rise of $TRUMP, but do not forget that $TRUMP's rise was driven by emotions, not logic, stemming from the attention and atmosphere generated by Trump's personal brand during the election cycle. It is essentially a MEME driven by political symbolism, not a token with real use cases. The current Trump has already 'collapsed' in terms of persona, and that emotion is hard to replicate.
Platform tokens are another matter; they involve ecosystem construction, user demand, and actual use cases. But Truth Social is essentially a Web2 platform and not a blockchain application, so users have no real demand for platform tokens. Since $TRUMP already exists, why not empower it directly? The reason is simple: new tokens are better for 'harvesting', as old tokens have already been drained, and empowering them will only lead retail investors to take the hit.
Don’t be misled by the temporary hype of something like the First Lady coin—there's a topic, but no path to realization, and the funds won’t buy in, ultimately leading to a quick flow out. So don't compare the 'success' of $TRUMP with new coins; that extreme emotion is not replicable.
A word of advice: no matter how much it rises, don’t engage with Trump's market. If no one lifts him up, he will naturally stop. There will always be opportunities in the crypto world; don’t pave the way for those who want to exploit you, maintain some integrity.
That's all for this article! If you feel lost in the crypto world, consider working with me to position and harvest from the market makers!
