After three months, BTC has once again surpassed 100,000. The market remains robust, peaking around 104,244 as expected in the early hours. Meanwhile, the U.S. stock market has surged as well, with rapid changes occurring in just one day. The market now hinges on the progress of trade negotiations and economic data trends. This year, the main influences on the market are: Trump's policies > economic trends > Federal Reserve monetary policy. After Bitcoin hits 100,000 USD, where can it go next?
Bitcoin has broken through the 100,000 USD mark, but everyone is now holding onto their Bitcoin without selling. The amount of Bitcoin on exchanges is actually decreasing, indicating that most of the market believes it will continue to rise.
Checking the trading data reveals that in the range of 98,000 to 99,500 (specifically, 30.9 million at 97,500 USD and 19.8 million at 98,900 USD), many people previously bought at these price points.
Now that the price has gone up, the number of trapped assets is decreasing. However, the 100,000 mark may require some back-and-forth before establishing a solid footing, as many people need to buy and sell at this level.
Next, we need to keep a close eye on the 105,000 USD mark, which is the next important resistance level.
Recently, the market has been heavily influenced by news. Trump's statements are more impactful than economic data. Just yesterday, he announced that he signed a trade agreement, and the market immediately reacted. Now, the market resembles a roller coaster; when Trump mentions tariffs, it plummets, and when he talks about cooperation, it skyrockets. Therefore, we should focus on: trade negotiation progress, economic data, especially what new updates Trump releases daily.
Actually, if it weren't for Trump's earlier tariff actions, Bitcoin would have reached new highs by now. The current market is being driven by policy news, so we need to pay close attention to the news.
Now, let's talk about Ethereum. Today's Ethereum can be considered a breath of fresh air. Despite such a significant upgrade, the price hasn't reacted much. It’s important to note that this upgrade is not trivial; it has been rated by the officials as one of the most significant upgrades following the merge and the Duncan upgrade. The upgrade includes raising the staking limit to 2048 ETH, account abstraction upgrades, enhanced L2 scaling, and EVM improvements. This is an upgrade aimed at regaining competitiveness, but yesterday the market didn't appreciate it, only slightly rising.
Today's surge has made us realize that ETH is still one of the two leading cryptocurrencies. With CME contracts, spot ETFs, and global consensus, Ethereum has everything it should have. So regardless of which direction Ethereum chooses in the future, it will remain relevant.
1. Streamline L1 to the level of Bitcoin according to Vitalik's vision.
2. Replace EVM with RISC-V to directly compete with microcontrollers like Sol and Sui. Ethereum will not lose its competitive edge. Although ETH long-term holders haven't kept up with the market in the past six months, I believe ETH will not disappoint everyone in the long run.
Many altcoins have doubled in just a day, especially the zoo memes, Neiro, Moodeng, and Pnut, which have experienced doubling trends in the last two days. Tokens like Pengu, Pepe, and Popcat have also seen daily increases of over 30%. The ETH ecosystem is also experiencing a comprehensive rise, with leading DeFi projects like Eigen, ETHFi, SSV, and Uni all increasing by about 30%.
The market has once again entered the familiar chaos of altcoins. If Bitcoin can hold above 100,000 for a longer period, the altcoin bull market we've been hoping for will truly arrive. We have already survived the toughest times, and hopefully, each day will be better moving forward.
Brothers, gather in the chat room:
