6.18 Market Trend Sharing:
The market is becoming increasingly fragmented, and trading cryptocurrencies is becoming harder to profit from!
This round of market conditions is clearly different from the previous bull market.
Currently, Bitcoin's hourly chart has stabilized, and a small rebound expectation can be considered!
The market is still in a volatile state, with the 4-hour range between 103300 and 109000. Approaching the lower bound, one might consider a light long position, but there are no clear breakout signals yet.
⚠ Warning! Frequent bottom fishing in the Asian market may pose risks of a crash in the evening European and American markets. Overall, maintaining a “bearish outlook on rallies” is a more prudent strategy.
🔥 Market Highlights:
1. The launch of SPX on BNB (MakerDAO split project, similar to Aave protocol) has attracted attention, but the fundamentals are average, leaning towards a “haircut” style;
2. ETH has seen a significant pullback, dragging down the ETH ecosystem's Hype, Virtual, SPX, and others;
3. AB on the BSC chain has surged to a market cap of $1.5 billion, rumored to be a project by Chinese nationals, claiming to have over 30 national leaders endorsing it, generating a lot of buzz.
