Recently, Bitcoin (BTC) has shown signs of recovery, peaking near $98,000 on May 2, refreshing its short-term high. However, it has been oscillating at a high level without breaking through for several days, and last night it even fell below $94,000. Many people panicked and exited, feeling that the market might have peaked.
Don't worry, actually the current trend of Bitcoin is highly similar to the market in May 2023, when there was also continuous upward movement followed by high-level oscillation, and then a real big market launch. In other words, we are just in the washout phase, with big fluctuations still to come.
When will altcoins usher in a real 'altcoin season'? The core indicator remains whether Bitcoin's market capitalization will accelerate. Once BTC's market cap starts to rise rapidly without a significant price increase, it indicates that funds are beginning to spread outward—this will be the signal for altcoins to start.
Moreover, the ETH/BTC (inverse axis) trend highly overlaps with Bitcoin's market cap, which is very crucial, indicating that the market structure is already very clear:
One is BTC;
One is the 'collectively referred to as ETH'—it represents most mainstream and altcoins.
In other words, there are only two 'coins' in the market, BTC and 'other coins', while ETH represents those 'other coins'.
MicroStrategy increases its holdings again.
MicroStrategy, the dominant holder of Bitcoin among U.S. listed companies, announced again last night (5th) that it spent $180.3 million to buy 1,895 Bitcoins from April 28 to May 4, with an average purchase price of $95,167.
MicroStrategy pointed out that after this increase, the company's total Bitcoin holdings have reached 555,450 coins, with a total purchase cost of $38.08 billion and an average purchase price of $68,550.
The funds for this Bitcoin acquisition by MicroStrategy still come from the proceeds of its new stock sales. According to the announcement, for this Bitcoin purchase, MicroStrategy sold 353,825 shares of MSTR (raising $128.5 million) and 575,392 shares of STRK (raising $51.8 million). Currently, MSTR has been fully sold, while STRK still has $20.87 billion in available quota.
Additionally, it is worth noting that MicroStrategy announced last week that it will start a new round of financing amounting to $21 billion, with the goal still firmly set on acquiring Bitcoin—buying more and more.
Currently, the hottest pure MEME project on the BSC chain is Donkey (Donkey Coin), without a doubt.
Why fire? Because its core stem comes from CZ (Zhao Changpeng) publicly poking fun at himself for having a 'donkey temper', so the community created a whole set of meme culture packaging using the image of a 'stubborn donkey'. You can understand it as: 'Old Horse's dog (DOGE), CZ's donkey (DONKEY)'.
This combination of celebrity IP and animal memes has a strong dissemination power in the crypto circle. More importantly, the Alpha group has not pushed pure MEME on BSC for a while; DONKEY may be the starting point for the next wave of BSC hotspots.
Let me remind you again, brothers, the world is just a huge makeshift stage, don't worship anyone! Musk changed his name three times to milk Gork, changed his profile picture; thinking back to when people blindly followed Old Horse's name coin, it was just foolishness. Trump has been issuing new coins continuously, make money early and leave this circle!
Lastly, don't forget to follow us! Let's achieve financial freedom together in this round of bull market, okay!
