This week, the cryptocurrency market shows "high volatility, strong resilience" characteristics. Bitcoin fluctuated between $104,200 and $106,000, repeatedly testing the key psychological level of $110,000 without success. Ethereum holds firm at the $2,500 support level, with attempts to break through the $2,700 resistance level beginning to show signs. Notably, amidst the market fluctuations triggered by geopolitical conflicts (Israel-Iran situation escalation), Bitcoin has demonstrated remarkable resilience, completing price recovery within 24 hours.
The total market capitalization of stablecoins surpasses $251.5 billion, reaching a historical high. Among them:
• USDT market share rises to 62.14%, with a weekly issuance of $830 million
• USDC market share slightly rises to 21.7%, mainly benefiting from institutional capital inflows
• Emerging stablecoins like FDUSD accelerate the erosion of remaining market share
Institutional Trends
1. Trump Media Group receives SEC approval for a $2.5 billion Bitcoin treasury plan, marking the formal intervention of political forces in cryptocurrency asset allocation
2. Fidelity Investments submits a Solana spot ETF application and innovatively adds a staking option, expected to attract at least $5 billion in institutional funds
3. DRW Investments invests nearly $100 million in Trump's project, showing traditional capital's accelerated layout in the crypto space
4. JPMorgan raises ratings for multiple mining companies, Riot Blockchain target price raised by 23% to $22.5
Traditional finance impacted
The news of Walmart and Amazon planning to issue stablecoins triggers a chain reaction:
• Visa and Mastercard stock prices fell approximately 5% in a week
• PayPal's market value evaporated by nearly $3 billion
• Traditional payment giants see daily transaction volumes reduced by 12%
Market movement tracking
• A whale on Hyperliquid shorts BTC with 40x leverage, currently floating profit of $4.66 million
• Binance Alpha launches ROAM token airdrop campaign, community participation surged by 300%
• ApeCoin DAO initiates dissolution vote, Yuga Labs accelerates ecosystem reconstruction
Key technical signals
Bitcoin's weekly line shows an "ascending triangle" pattern, with MACD indicators showing a golden cross. Ethereum's 2-hour chart forms a "head and shoulders bottom" prototype, with the RSI indicator escaping the oversold zone. Solana, after breaking through the $180 resistance level, is expected to challenge the $200 integer level.
Next week's focus preview
1. Solana ETF approval: If approved, it will trigger a reevaluation of public chain token values
2. Geopolitical risks: The Middle East situation may continue to test the safe-haven attributes of cryptocurrency assets
3. Stablecoin wars: The entry of retail giants may reshape the industry landscape
4. Mining companies' performance: As the halving effect deepens, industry consolidation may accelerate
Investment Insights
The current market presents three major characteristics:
1. Institutional participation reaches an all-time high (weekly net inflow of $1.37 billion in spot ETFs)
2. Political forces deeply intervene in cryptocurrency asset allocation
3. Competition between traditional finance and the crypto ecosystem intensifies
Investors are advised to focus on:
• Bitcoin's breakthrough situation at the key $110,000 level
• Institutionalization process of the Solana ecosystem
• The impact of the evolving stablecoin market structure on the payment industry
• Asset allocation strategies under geopolitical risk