According to the current liquidation map, last night the market faced new highs with shorts getting liquidated again, and the market is dominated by bulls, who have accumulated a lot. Based on the current Bitcoin price around $115,900, if the market fluctuates another $2,000 up and rises to around $118,000, it is expected that approximately $500 million in shorts could be liquidated. Conversely, if the market drops to around $114,000, it is expected that approximately $1.255 billion in longs could be liquidated: Bitcoin spot ETF saw an inflow of $388 million yesterday, while Ethereum spot ETF saw an inflow of $42.8 million.
Market perspective: the overall market direction is short-term bullish with fluctuations. After the market surged continuously to new highs last night, many short positions have been liquidated, and there are not many short positions left. From the current market trend, it seems to be on a pace to challenge $120,000. Therefore, the short-term outlook remains bullish, with Ethereum and other altcoins also rising, especially Ethereum returning to $3,000 after several months.
I personally think that the recent rise of the market has been rapid and somewhat volatile, mainly due to the favorable news of the Federal Reserve's upcoming interest rate cuts, which has pushed the market up in advance. But after the rise, will there be a significant correction? In the face of such market conditions, I recommend focusing on short-term trading with strict stop-loss measures.
Ambush 3 altcoins expected to rise 10 times in the future!
1.COMP
Compound (COMP) has struggled in recent months, but signs of recovery have begun to emerge. Currently, the price of COMP is $45.53, having risen 11.86% in the past 24 hours. Its market cap has also increased by 2.64% this week, reaching $427.65 million. More notably, daily trading volume has surged by 260.65%, indicating renewed interest from investors.
This upward trend reflects a shift in sentiment across the entire cryptocurrency space. The Fear and Greed Index is currently at 71, leaning towards 'Greed,' indicating that traders' confidence is increasing. Technical indicators show that momentum is strengthening, with a 7-day RSI of 62.89, still below overbought levels. Although the MACD histogram remains negative, it may form a bullish crossover. COMP's trading price is also above key short-term moving averages, including the 7-day moving average of 42.05, further indicating a positive trend. A recently passed proposal to include sdeUSD in Compound as a yield-bearing stablecoin may also help enhance its utility.
As early as May 2025, Compound expanded its asset product line, adding Ethena's USDe stablecoin and Mantle's mETH staking token. These new features received community voting support, providing users with more ways to interact with the platform. Additionally, discussions about introducing cmETH could enhance Compound's influence in the DeFi space.
Even after early setbacks, Compound has clearly not faded away. Its recent actions demonstrate a determination to move forward. If the current trend continues, COMP may reclaim its status as the best-performing DeFi asset.
With support from protocol changes and an overall industry rebound, COMP has resisted recent sell-offs. It is crucial for it to break through the resistance level of $45-$48. As interest in DeFi and real-world asset narratives continues to grow, whether COMP can maintain this momentum remains to be seen.
2.WIF
dogwifhat (WIF) is one of the most well-known meme coins on Solana and is now garnering renewed attention among traders. Initially just a joke, recent market performance suggests that WIF's durability may be stronger than initially expected.
In the latest update, a report from July 9 indicated that whales have increased their holdings near the support level of $0.83, which usually signals an increase in buying pressure. Another article from July 5 also confirmed this trend, stating that large holders have accumulated over 39 million tokens. Technical analysts also highlighted some bullish patterns, such as a descending wedge breakout and cup-and-handle formation, which may attract more investor interest.
From a technical perspective, the RSI fluctuates between 58 and 66, indicating that there is still room for further upward movement without being overbought. The MACD histogram remains positive, supporting a sustained bullish momentum. Fibonacci retracement levels also show active support and resistance levels that traders may closely monitor.
The overall market trend is heating up. The total market capitalization of cryptocurrencies rose by 2.43% within 24 hours, with many meme coins like BONK also seeing price increases. As part of the Solana ecosystem, WIF may benefit from this overall rise in meme coins and the recent boost in Solana's reputation.
All factors combined, including whale activity, strong chart patterns, and the growing interest in meme assets across the industry, make WIF a strong contender for the next explosive cryptocurrency, especially for traders looking for momentum-driven speculation.
3.UNI
Uniswap, as one of the hottest cryptocurrencies on Polygon, has a unique selling point in its combination of simplicity and complexity: anyone can create a trading pool, while customers can also leverage the complex features of the V3 Vault model, such as concentrated liquidity, smart fee tiers, and efficient routing via UniswapX. The UNI token has voting rights to vote on upgrades like Uniswap v4/Unichain and control the use of funds, giving its holders a voice in governance. UNI is key to sharing ownership, creativity, and participation among developers, traders, LPs, and DAO members.
On July 2, Uniswap Labs launched a revolutionary product: one-click swaps based on smart wallets. With just a click, users can utilize the Uniswap web version and wallet, avoiding slippage, downloads, and fluctuations in gas fees. The one-click process requires less code for the swap, incurs lower gas fees, and offers a smoother operation. This door to DeFi opens up opportunities for ordinary users, marking a change in user experience.
Looking back, UNI has rebounded from a low of about $6.50 in April to around $7 now, technically caught in an 'ascending wedge,' which usually signals a slight stop-loss or correction. Exchange positions are also increasing, heightening the possibility of selling pressure, yet also indicating that whales are entering the market. However, bulls are maintaining the price above $7.30, and if the trend continues, the price could rise to $7.80.
Following closely is a milestone that any protocol would be proud of: Polygon's total transaction volume on Uniswap recently reached $100 billion. This is true momentum, not hype. Uniswap's Layer-2 status is pushed into the top DeFi realm by Polygon users, known for their low gas fees and high transaction volumes. Such transaction volumes indicate that UNI's pipeline system is being used seriously, which is crucial for the protocol's resilience.
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