Earlier today, Bitcoin briefly broke through $104,000, rising 7.41% within 24 hours, marking the first return to this key position since 98 days ago. Although it has slightly retraced to $102,903, Bitcoin has rebounded about 40% from its local bottom in early April. Undoubtedly, this is no longer a simple rebound but a substantive trend reversal.
Coinglass data shows that nearly 200,000 people have been liquidated in the past 24 hours. Among them, the liquidation amount of short positions exceeded $800 million.
This wave of movement far exceeds expectations. Initially, we judged that a real reversal would occur in June, but clearly, the market has chosen to act early. Bitcoin's early flight means that the altcoin party is about to start, especially in the AI and MEME sectors, which often release greater growth potential after mainstream coins stabilize.
Ethereum also does not want to be outdone, strongly breaking through $2200 earlier today, currently priced at $2201, with a daily increase of up to 21.4%. The last time Ethereum saw a daily increase of over 20% was on January 3, 2021, which was also the starting point of the last altcoin season. We believe that the 'Prague upgrade' on May 7 is the real driving force behind Ethereum's breakthrough, as expectations from the technical upgrade have reshaped ETH's valuation.
Meanwhile, other mainstream cryptocurrencies in the market have also shown significant gains:
DOGE (Dogecoin) rises over 13%
XRP (Ripple) rises over 14%
LTC (Litecoin) rises over 11%
The outbreak of this round of market is not coincidental; there are three major direct driving forces behind it:
The Federal Reserve releases dovish signals
In the latest Federal Reserve meeting,Chairman Powell's speech was overall neutral to dovish,and although he expressed conservatism, the market caught his uncertainty regarding the economy, which opened space for expectations of easing policies.Trump reaches a significant trade agreement with the UK
This signals a steady recovery of the global economy and suggests that the US may enter a new friendly cycle at both economic and policy levels.Bitcoin reserve system takes a further step
Arizona passes HB 2749, allowing the state government to invest up to10% of reserve funds in Bitcoin, becoming the second state government to officially hold BTC after New Hampshire.
This series of messages constitutes a solid foundation for Bitcoin to break $100,000.
Wealth password
This rebound is all about $ava $avaai; the only thing to watch is the VC token dressed in meme clothing, which has given everyone a chance to buy in at a low price. Other memes have been abandoned by the market makers, but ava will not be abandoned, as it continuously distributes and recovers tokens by pumping and dumping. Next, it's really aiming for the previous high of 300m.
Finally, let's take a look at what's noteworthy on-chain
$koma seems to be entering the market.
$jager dividend token, I should be able to break even in one day now with the dividends.
$btz seems to be making an AI launch pool.
$donkey has seen severe pullbacks from 15 to 4m, but the gorilla is very strong, already pulling back to alpha, now close to 10m.
Finally, don't forget to give a follow, let's achieve financial freedom together in this bull market, shall we!
