On May 12, Bitcoin was flat for two days, and after a wave of altcoins increased, it seems to be waiting for Ethereum to provide direction. Currently, the daily support level for Ethereum is at 2426; at the 15-minute level, resistance and support have switched places. If it stabilizes, it can test 2745-2820. Similarly, if the 2400 level is broken, it can create pressure for the market to adjust back to around 2300.
This week's market theme remains the MEME sector, especially some old-school MEME coins—like Squirrel, Hippo, and Dog, which once had market capitalizations of hundreds of millions or even billions of dollars, have once again become the focus of capital attention.
Small-cap MEME projects have also shown a significant bottom rebound, with an average increase of around 1 time, and some performing better reaching 1.5 times. However, judging from the current trend, the subsequent upward momentum has weakened.
The driving force behind this wave of hot money primarily comes from the inflow of American funds. From the trading situation of Squirrel and Hippo, the transaction share on Coinbase is also quite considerable, indicating that this round of market trends indeed has the shadow of American capital leading the pace.
In terms of institutional coins, there has also been a certain increase along with Ethereum's rebound, but overall it seems difficult to sustain. The VC narrative has long been demystified by the market; unless there is direct involvement from officials to promote it, breakthroughs are hard to achieve.
In 2025, may my brothers' wishes come true, positions double, and wealth flow in abundantly!
Yesterday is now the past; let us embrace the present in the best state, go with the flow, and the trend is quietly taking shape.
I will always fight alongside my brothers, never leaving or abandoning!
Past records are clear and traceable, history resonates—when mountains and rivers meet, it is all fate!
I will continue to share the spot opportunities I am optimistic about and the Golden Dog's views, hoping to accompany everyone in overcoming challenges in the market and win the future together!