With the favorable news of the U.S. CPI data falling short of expectations and inflation showing no signs of rising, market expectations for the Federal Reserve to cut interest rates this year have intensified, and Bitcoin once approached the $105,000 mark.
Ethereum is performing even stronger, breaking through $2700 this morning, reaching a peak of $2738, a 10% increase within 24 hours, setting a new high in two and a half months, becoming the best-performing asset among the top ten cryptocurrencies.
Bitcoin is currently in a high-level oscillation adjustment phase, but there are no substantial negative factors at the macro level. As mentioned last week, the market has shifted from a rebound phase to a trend reversal, and after the oscillation ends, it is expected to challenge historical highs (ATH) and ignite the altcoin market.
The current trend shows a clear five-wave upward structure. If this round of correction breaks below the key support level of $100,300, it may further fall back to around $90,000. In the medium to long term, the upward target still points to above $130,000, and the overall trend remains unchanged.
Market analyst VirtualBacon predicts that if Bitcoin surges to $200,000, Ethereum may break through $10,000. Currently, ETH's technical indicators remain strong:
Has broken through the downward trend line since the peak last December;
Stable above the 20-day and 50-day moving averages;
Just broke through the 200-day moving average. If it can stabilize, this line will become short-term support for an upward trend, possibly targeting $3100.
However, there are still uncertainties in the global economy, and liquidity has not formed a comprehensive bull market. Many analysts believe that the current rebound may be a 'flash in the pan.' If the market corrects, ETH may test the support level of $2100 again.
Currently, opportunities in altcoins coexist on both CEX and on-chain DEX: CEX is showing a sharp rebound, while on-chain is active due to platforms like Bonk and Believe, with various meme coins continuously engaging in PVP, creating concentrated short-term opportunities.
The altcoin season has quietly begun. Are you still waiting and watching?
The altcoin season index has quietly risen from a low of 13 to 31, releasing a starting signal!
Looking back to December 4 of last year, this index once soared to an annual high of 87. The current warming means that among the top 100 cryptocurrency projects by market capitalization, 31 have risen more than Bitcoin, while Bitcoin's market share is gradually declining.
Recently, classic meme coins like PEPE and ORDI have returned to the stage. The familiar plot and familiar characters are about to start again?
The meme rotation is skyrocketing, and AI is expected to take over!
AI projects like AIXBT and $WLD have been consolidating for several days, showing clear momentum. Meanwhile, the leading ETH ecosystem project ETHFI has broken through first, becoming a leading indicator.
In recent days, meme rotations are simply 'taking off one by one':
$PEOPLE , $Moodeng, Neiro, BOME, ORDI, $SATS…
The higher the early heat, the sharper the drop; now the rebound is stronger, even the inscription sector has been driven up.
The rhythm is clear: once the meme trend reaches old leaders like DOGE and SHIB, it will be time for narratives like AI to take the baton.
The trend is clear, and the next actions should be more decisive. When encountering quality projects, one must dare to invest and not be intimidated by short-term fluctuations.
That's all for this article! If you're confused in the crypto world, consider strategizing with me and harvesting from the market makers!