Market Overview
Bitcoin continues to experience fluctuations and consolidation, while altcoins are generally declining. There is a lack of market hotspots, and the trading atmosphere is tepid, with indications of specific capital forces controlling the market. In contrast, the US stock market is performing strongly, with indices continuously rising and gradually approaching historical highs.
Market Hotspots Focus
① The new AI concept coin Sahara, after landing on top trading platforms like Binance (BN) and Upbit, saw a sharp price drop. Recent market performance suggests that short-selling strategies on new coins have been consistently effective at this stage.
② The small-cap coin BSW rose against the trend, but was subsequently delisted by Binance. This action seems to indicate a deliberate effort by market makers to create a short squeeze.
③ In the meme coin sector, stocks like JOE and USELESS are performing remarkably. JOE, a well-established meme coin on the Ethereum (ETH) chain, has prices nearing historical highs, with rumors that it is controlled by the well-known figure Murad; USELESS has even surpassed historical highs, with reports suggesting its backer is the Bonk platform. Notably, the trading volume of the meme concept platform Pumpfun has hit a near 9-month low, indicating a significant cooling of market enthusiasm.
