I. Core market dynamics

1. Large institutions are hoarding Bitcoin

- The latest data shows that institutions plan to hold a cumulative total of 417,000 BTC (approximately $240 billion at current market value) by 2025, indicating that professional capital has a long-term positive outlook.

- The stablecoin issuer Tether recently transferred 3729 BTC (valued at $4 billion), which is a 'strategic reserve-level' operation, not retail behavior.

2. The shadow war of stablecoins is escalating

- The expansion of dollar stablecoins (such as USDC) is too rapid, and the former vice president of the Bank of China publicly calls for a trial of the renminbi stablecoin in Hong Kong, which could be a policy bellwether.

- In the future, stablecoins will become tools for major country financial games, and attention should be paid to the progress of renminbi stablecoins.

3. ETH continues to attract funds

- The spot ETF has seen a net inflow for 11 consecutive days, with an additional $78 million yesterday, indicating a clear preference for ETH over BTC.

- Circle (the issuer of USDC) plans an IPO with a valuation of $7.2 billion, which is favorable for the ETH ecosystem.

II. Potential opportunities sorting

1. BTC: Institutional long-term accumulation plan, hold the base position, do not chase high

2. ETH: ETF fund inflows + Circle listing expectations, gradually increase positions on dips

3. Solana: New project airdrop + $7 million financing, participate in ecosystem hotspots with small positions for quick entry and exit

4. Gold-backed stablecoin: TON chain launches gold-pegged coin xAUt, pay attention to capital inflow from the Middle East/Southeast Asia

III. Current operational strategy

1. BTC: Maintain existing positions, institutional lock-up means limited downside, but short-term fluctuations may occur.

2. ETH: Wait for a pullback to the support level to increase holdings, benefiting from ETF funds and ecosystem development.

3. Solana ecosystem:

- Participate in airdrops of new projects like Zircuit

- Pay attention to early opportunities in financed projects like Cooking.City

4. Cash reserves: Retain 30% of funds to cope with sudden fluctuations, as the market appears calm on the surface but is actually turbulent underneath.

Summary:

Now is not the time for all-in, but there are many structural opportunities. Remember three sentences:

1. Big money is quietly laying out BTC/ETH

2. Small money can gamble on Solana ecosystem hotspots

3. The stablecoin sector will become increasingly important

BTC

Yesterday's fluctuations within the H1 range, if it maintains below 106900, the probability of further downward movement is greater!

ETH

2630-2650 is the middle track area of H1, but still targeting downwards at 2525-2470! Otherwise, if you can't win, consider joining the strategy!

SOL

Enter around 154 as per the daily report, maintain a stop-loss, with resistance above at 161-164! Continue to wait below 147-145!

The information and data mentioned in the content are sourced from publicly available materials, striving for accuracy and reliability, but no guarantee is made regarding the accuracy and completeness of the information. The content does not constitute any investment advice, and you are responsible for any investments made based on it!