According to the current liquidation map, the market is dominated by bearish forces. Based on the current Bitcoin price around $104,600, if the market fluctuates up or down by $2,000 again, rising to around $106,600, the estimated cumulative liquidatable short positions would be about $1.78 billion. Conversely, if the market drops to around $102,600, the estimated cumulative liquidatable long positions would be about $1.4 billion. The Bitcoin spot ETF saw a net outflow of $6.3 million yesterday, while the Ethereum spot ETF saw a net inflow of $4 million yesterday.
Market direction: Short-term fluctuations and sideways movement are dominant. From the current market trend, the 4-hour chart is still primarily in a sideways range, while Ethereum is also experiencing little volatility and has entered a sideways phase. Additionally, the U.S. interest rate decision met market expectations, maintaining the status quo, and Powell's speech was similar to his previous remarks, leading to a general market reaction. Therefore, from the market trend, I believe we should pay more attention to the developments in the Israel-Palestine situation and patiently wait for the market to truly change direction. There are unstable factors during this period, and the market tends to be more cautious, so the strategy should remain focused on short-term fluctuations.
Focusing on the three most explosive altcoins!
1. ACH
Alchemy Pay (ACH) has broken through the boundaries of cryptocurrency payments by providing a seamless connection between traditional banking and blockchain transactions. Its platform allows businesses, developers, and institutions to conduct transactions using both fiat and digital currencies, thereby enhancing the usability of cryptocurrencies.
On June 16, 2025, Alchemy Pay partnered with Ripple Labs to enhance the accessibility of Ripple's new stablecoin RLUSD, marking a significant highlight for Alchemy Pay. This collaboration allows for the use of RLUSD through over 300 payment channels in more than 170 countries worldwide. Ripple acts as the issuer of RLUSD, while Alchemy Pay provides the infrastructure to make this stablecoin more accessible. The goal of both parties is to simplify the use of RLUSD in global transactions, thereby expanding its applications and enhancing its utility. If this collaboration succeeds, both Ripple's ecosystem and Alchemy Pay's network traffic will benefit.
Five days ago, Alchemy Pay announced a significant partnership with the tokenization company Backed. This new initiative aims to facilitate the trading of tokenized stocks and ETFs globally through direct fiat payments. It addresses the barriers often faced by investors in emerging markets, enabling them to access payment channels in over 173 countries through Alchemy Pay, allowing for cheaper and more convenient purchases of global financial products.
Despite this encouraging news, ACH's market performance has not fully reflected these developments. The token is still declining on weekly and monthly charts. However, in the past 24 hours, its price has indeed increased by 1%, reaching $0.01896. Notably, trading volume surged by over 44%, indicating a spike in investor interest and increased activity in the ecosystem.
2. ZRO
LayerZero (ZRO) is an interoperability protocol that connects over 50 blockchains, allowing developers to more easily build applications and tokens that run smoothly across multiple networks. With secure on-chain endpoints and a flexible architecture supported by Executors, it enables message transmission across chains without relying on centralized control.
ZRO's price has increased by 0.6% in the past 24 hours, while the overall cryptocurrency market has dropped by 1.9%. This increase seems to be driven by the project's own developments, particularly the upcoming fee referendum scheduled from June 20 to 27. If the proposal is approved, it will allow for the burning of protocol fees, potentially enhancing its long-term value. Additionally, the Relative Strength Index (RSI) (RSI 14) is worth noting, currently at 29.88, indicating that the token is in an oversold state and may be poised for a short-term rebound.
However, with $64 million worth of tokens set to be unlocked on June 20, market sentiment remains mixed. This could increase selling pressure, offsetting some of the bullish momentum. The Fear & Greed Index reading is neutral, lower than last week's 'Greed', indicating that investors are now more cautious.
Overall, the rise of ZRO reflects optimism regarding the upcoming referendum and the potential for a rebound based on technical indicators. However, the token is about to unlock, and the overall market malaise may limit the extent of its short-term rebound.
3. EGLD
EGLD has dropped by 2.77% in the past 24 hours, which may be due to traders taking profits after a recent strong rally. Meanwhile, momentum on technical charts has weakened, and the overall cryptocurrency market has declined, with the total market capitalization falling by 2.5%. Since breaking through on June 16, EGLD has surged by 22%, so this pullback may be part of a normal market cycle.
From a technical perspective, despite facing setbacks in the short term, EGLD still shows strong momentum. It recently broke through a long-standing descending wedge, signaling the end of its downward trend that lasted for several months. This breakout occurred after the currency repeatedly found support near $11.77, which has been a solid price bottom since reaching a historical high of $58.25 in December 2024.
The fundamentals also depict a bright outlook. According to data from LunarCrush, as of July last year, MultiversX outperformed competitors like Helium and Akash Network in social engagement. The network continues to grow, and by June 14, 2025, the total number of wallet addresses is expected to reach 8.5 million, representing a 112% increase compared to mid-2024 levels.
Overall, EGLD's long-term outlook appears positive, with strong fundamentals, an increasing user adoption rate, and supportive technical setups providing a solid foundation for future gains.
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