Bitcoin has been performing a bit strongly recently, with a pullback of less than 2%. Despite Powell extinguishing hopes of a rate cut in June last week, and U.S. stocks being sluggish for many days, BTC seems to be similarly affected. ETFs bought about 300 million BTC yesterday. Our Bitcoin is gradually being snatched away, but many people are still oblivious; retail investors sell out of panic, fear, and frustration, while the elites and institutions silently accumulate, such as the Wall Street giant Strategy (formerly MicroStrategy) sticking to its buy strategy, with new giants continuously emerging.
This week, two major data releases will provide new catalysts for BTC. On Tuesday at 20:30, CPI data will be released. On Thursday at 20:30, PPI data will be released. If the data shows that inflation is not high, BTC will break through $110,000 at once; otherwise, the impact might not be significant, such as last year's CPI release, which did not cause a major drop in BTC.
Ethereum has exploded on trending searches; beware of the pullback after the 'roaring crowd.'
Last night, Ethereum surprisingly made it to the Douyin trending list, surpassing Bitcoin's popularity. In a bull market, this is both good news and a warning. The frenzy of public sentiment often also indicates that the short-term top risk is approaching.
Recently, the heat around $MOODENG has also been very high; I estimate that $MOODENG is very likely to go live on mainstream spot exchanges within three days.
Regarding the potential trends after the $MOODENG spot launch, there are currently three mainstream views:
1️⃣ The news directly doubles the increase (like when PEPE launched on Binance back in the day)
2️⃣ First rises by 20%-50%, then pulls back, and then continues to surge when it truly opens (like the first-day performance of TRUMP)
3️⃣ Emotions peak, the launch is at the pinnacle, funds do not keep up, forming a short-term top
I lean more towards the second viewpoint—currently, meme popularity is off the charts, and outside funds are anxious and hesitant; once it is confirmed to go live, the sentiment may 'not be able to be doused at all.'
The essence of this bull market is an embrace of emotions and bubbles. Meme coins remain the direction of the hottest money at the moment.
Here are the most noteworthy star Meme coin projects this week:
$trump 13 billion 640,000 people president coin
$MOODENG 220 million 74,000 people well-known hippo concept, suddenly surged several times, strong backing
$goat 200 million 290,000 people AI track pioneer
$pnut 400 million 490,000 election concept coin
$rato 30 million 5,600 people, new role by the author of Pepe, new big dog on the pepe track on the ETH chain
Conclusion
Bitcoin has quietly been 'bought out' by institutions; when the sentiment in the meme sector is fervently high, if you are still hesitating and observing, you might have already missed the opportunity. Every pullback in a bull market is a chance to re-enter; the more insane the sentiment, the more calm you need to be, but not to avoid, rather to strategize.
I wish everyone in this bull market to be participants, not just witnesses!
