Can Bitcoin reach new highs again?
Recently, Bitcoin's price is approaching its historical peak, and many are asking if it can continue to rise; let's first look at a few key data points:
1. Is money really coming in?
2. Since April, the entire cryptocurrency market has seen an actual increase of $30 billion in real capital, with $6.4 billion coming from new stablecoin inflows, but last year at the end of the bull market, it was $11 billion.
3. The current situation is like the summer of 2023, where prices rebounded but money did not follow, resulting in stagnation.
What fueled the last big rebound to over 100,000?
1. The Fed suddenly cut interest rates by 0.5%
2. Trump's election prospects are bullish + public support for cryptocurrencies
3. The market's speculative funds are flooding in, with 11 billion in liquidity coming in over the past month.
The current uncertainty continues to increase:
The Fed's probability of cutting rates in June is less than 10%
Although the Fed recently suspended tariffs, the funds brought in are minimal.
The market currently lacks a profit-making effect; without a new story to tell, it cannot attract more funds.
Although the price is approaching historical highs, the money coming in this time is half of what it was last time, and there are no significant positive news; unless a large amount of new funds suddenly enters the market, sustained increases will be difficult. It is advised to remain calm and not to be carried away by the price, but rather to observe the actual liquidity situation.
Finally, a key point: every time there is a desire for altcoins or a profit-making effect, a rate cut is essential.
Focus on 3 altcoins that could see a 10x increase in the next bull market!
1. ordi
The original BRC-20 token ORDI has risen 14.51% in the last 24 hours, reaching a price of $12.42. Its trading volume has also grown significantly, with high liquidity keeping the project attractive to traders.
ORDI is based on Casey Rodarmor's Ordinals protocol, allowing users to store files such as text, images, and videos on the smallest unit, Satoshis (the smallest unit of Bitcoin). This innovation opens new doors for the secure presence of NFTs and digital assets on the Bitcoin blockchain. In December 2023, ORDI became the first BRC-20 token to exceed a market cap of $1 billion, making history and attracting attention in the DeFi space.
Although some trading signals suggest that the price may slow down (e.g., MACD indicators weakening), other signals remain positive (e.g., bullish SMA crossovers). If the price breaks through $12.79, the next target could be $13.75. However, investors should remain cautious as any decline could bring the price down to the support level of $7.25. ORDI's unique application of Bitcoin technology gives it strong long-term appeal.
2. ENA
Ethena's token ENA has gained attention after rising 58.04% in the past week. As of the time of writing, its trading price is $0.4270, with a market cap of approximately $2.48 billion. Strong trading volume and bullish technical signals such as moving average crossovers indicate that this upward trend may continue, especially if ENA breaks through the $0.49 level.
The upcoming stablecoin USDe from Ethena Labs adds more excitement to the market. Unlike other stablecoins like USDT or USDC, USDe can not only be used for payments but also offers staking rewards. USDe does not require holding fiat reserves; instead, it generates returns through staking ETH, providing holders with an annualized return of up to 29%.
Recently, Ethena Labs announced a partnership with TON at the Token2049 event in Dubai. This collaboration will integrate USDe into the Telegram ecosystem, allowing millions of users to access DeFi tools through Telegram. With this forward-looking move, Ethena is becoming an important player in the DeFi space.
3. ENS
ENS continues to maintain its position as one of the more stable cryptocurrency projects, recently rising to $23.91, with a daily increase of 4.09%, and has surged 60.75% in the past month. The market cap of this token is currently $867 million, and its recent performance has outperformed many of the top 100 cryptocurrencies, including Bitcoin and Ethereum.
ENS helps users convert lengthy and complex wallet addresses into easy-to-remember names. Over the past year, the project has increased by 73.40%, with 70% of trading days ending in increases recently. Although the trading price of this token is still below its 200-day moving average, momentum is strengthening.
ENS Labs is also developing 'Namechain,' a Layer 2 upgrade planned for the end of 2025. This upgrade aims to reduce the cost of ENS and improve its speed by migrating ENS to a Layer 2 network, thereby enhancing the user experience and helping ENS reach more users. Although ENS still faces some resistance in breaking through key price levels, ongoing development and an active community provide it with strong long-term value.
ENS is showing strong signs of growth and innovation. Investors seeking high-potential altcoins should pay close attention, as it may become the next explosive growth cryptocurrency.
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