June 12, 2025

Yesterday, I judged that the top pressure would be difficult to break through in a short period of time, and it seems that this will be confirmed again. This also means that there will be more fluctuations ahead. The 110,000 pressure level has not been broken through several times. The most likely way to break through this situation is with a large bullish candle directly piercing through. This is also the reason why I believed that the pressure level would be difficult to break through directly yesterday. As for why this point has such strong pressure, aside from the consensus pressure of multiple failed breakthroughs, it is more importantly due to the signs of selling around the 100,000-110,000 mark.

The so-called selling refers to long-term holders of BTC offloading their assets, which can be seen from the holding situation of long-term addresses. Of course, it is also evident on the surface, which is why MicroStrategy keeps buying without raising the price. However, there is no need to worry too much because it is a natural process for BTC to transfer from crypto magnates to traditional capital. This is also an inevitable process of the gradual transfer of pricing power, and once the transfer occurs, the price of Bitcoin will become more stable.

In this wave, I will pay more attention to the price of Ethereum because, objectively speaking, the price of Bitcoin has limited speculative potential and is more suitable for large capital allocation. In terms of price, Ethereum has a bit more speculative potential. Of course, the weak market over the past year has already told us that the Ethereum ecosystem has also fallen into a stage of developmental stagnation, and a long-term bullish outlook has certain challenges, or it requires new capital injection.

As for new funds, I believe there are still considerable opportunities. One is ecological development, which remains a very active area for large funds, with the most innovative protocols. The second is the spot ETF channel. Once utilized, it has the potential to become the second Bitcoin, though on a significantly smaller scale. This recent pullback is within expectations, and when to attempt another upward movement will depend on the strength of the pullback. If Bitcoin does not break 105,000 today, it will likely attempt to break through again in the short term.

Thank you for your attention and likes.