I do not agree with the seasonal argument and also believe that the lack of catalysts is no longer that important. In the past, catalysts were needed to stimulate people's awareness/interest in cryptocurrencies. It is clear that in the current environment, 1. global awareness, and 2. interest, translate into institutional demand. The factors hindering the rise of BTC are the current balance of network traffic (quoting Woonomic here). Therefore, either demand expands further, or selling pressure (mainly driven by OG wallets (afik)) weakens. In my view, the current setup looks quite strong, enough to break through resistance levels (108, 100, and ultimately 112) in the coming weeks. Positive macroeconomic and liquidity factors will drive us to breakthrough. Economic surprises look good—especially @BittelJulien's weighted version—along with liquidity. Liquidity has brought more positive factors this summer. Liquidity had briefly slowed down, mainly influenced by the strengthening of the dollar index. However, this situation has been reversing. Overall, BTC's trend looks exceptionally strong. Even ETH has performed well. Continuous ETF inflows + the price of ETHE stabilizing, in my opinion, may drive us to break through the 2800 resistance level, or even higher! #币安Alpha上新 #以色列伊朗冲突 #美国加征关税