5.9 Morning Market Summary:
Bitcoin has broken through 100,000 and is currently in the yellow ABC upward pattern's A wave, which is performing stronger than expected. Although a B wave pullback may follow the A wave, given the current strong market conditions, it is not recommended to short the B wave. At this time, it is best to look for cryptocurrencies that have not yet reached their target prices to catch up, and to enter during pullbacks.
The altcoin index broke through a key resistance level yesterday, a breakthrough similar to the two occurrences in October last year and November this year, where each breakthrough was followed by a significant rise in altcoins and a substantial decline in BTC's market share. The difference this time is that the breakthrough occurred earlier. After a previous 90% drop in altcoins, a frenzy is about to arrive. It is expected that altcoins will experience an explosion in the next two to three months!
In terms of hotspots,
1. ETH surged, leading the ETH ecosystem projects, including meme coins like Pepe, Neiro, Moodeng, as well as ecosystem coins like Eigen, ETHFI, ENA.
2. SUI also saw a significant increase, becoming one of the fastest-growing public chains recently.
3. In the AI sector, Virtual, Fartcoin, and others also showed significant gains, with Virtual's new staking mechanism exhibiting a Ponzi flywheel effect.
