Recently, the crypto market has truly been 'exploding'! Bitcoin (BTC) and Ethereum (ETH) have continuously reached new highs, and altcoins are also starting to become active, with many coins seeing double-digit gains within 24 hours 📈. Speaking of this wave of market, it is indeed exciting and full of anticipation—what will happen next? Is the 'altcoin season' about to arrive? Don't rush, let's discuss slowly.

BTC and ETH are performing remarkably, the market is booming 🔥

Let's start with big brother Bitcoin, which surged to 117,500 USDT last night, and although it slightly retreated to 115,400 this morning, it still saw a 24-hour increase of 3.75%.

Ethereum is even more powerful, driven by multiple favorable factors, breaking through the $3000 mark last night, reaching a high of $3002.99, with an increase of up to 5.77%! Mainstream altcoins like SOL also followed closely, recording gains of over 4%.

In terms of derivatives, Coinglass data shows that the total liquidations across the network in the past 24 hours reached $1.078 billion, with short liquidations accounting for the majority, approximately $969 million. Specifically, BTC liquidations amounted to $583 million, while ETH accounted for $242 million.

Altcoins are not to be outdone, surging fiercely 🌟

This wave of market has led to impressive performances from many altcoins: SUI increased by 11.7%, ARB increased by 11.1%, PEPE increased by 11.2%, and the most exaggerated is PENGU which surged by 26.18%! The entire market atmosphere has become active, with the fear and greed index soaring to 71, falling in the 'greed' range, and everyone is very optimistic.

Why is the market so fierce? Tariff easing + institutional buying + interest rate cut expectations 🎯

  1. Tariff 'desensitization': The panic effect caused by the previous tariff war has gradually dissipated, and market sentiment has stabilized significantly.

  2. Institutional buying: Various Bitcoin and altcoin ETFs are seeing continuous inflow of funds, especially ETH and SOL are increasingly favored by institutions.

  3. Interest rate cut expectations: Federal Reserve officials frequently release signals of interest rate cuts, boosting market confidence.

These combined factors have become a strong driving force behind this wave of increase.

ETH: The main character of the bull market, does it still have a story to tell? 🐂

Ethereum is truly a dark horse this time, having doubled since the low in April, far surpassing Bitcoin and SOL. Behind its rise are regulatory easing, institutional buying, increased on-chain activity, and foundation reforms among multiple favorable factors. Although there is still selling pressure around $3000, as long as it maintains the support area at $2750, the future remains optimistic.

Jack Yi, the founder of LD Capital, who has previously been bullish on ETH (known in the circle as 'Boss E'), stated this morning on X that ETH's breakthrough of $3000 means the bull market has officially begun. He believes Ethereum has been undervalued for a long time, and the previous bull market was driven by ICOs and DeFi, while this time it is driven by stablecoins and RWA.

However, the foundation has recently sold some ETH, reminding everyone to pay attention to short-term fluctuations.

Will the altcoin season really come? 🧐

ETH has performed well, and everyone is looking forward to the 'altcoin season' making a comeback. But voices in the market are mixed:

  • Traders have pointed out that there are currently a large number of naked shorts in the altcoin market (short positions not fully covered by physical holdings), and once these shorts are forced to close, it may trigger a strong rally in altcoins.

  • However, some analysts believe that most altcoins may still underperform Bitcoin in the future, with more opportunities in large coins and blue-chip projects.

So, whether the altcoin season will come is still an unknown, but there will definitely be plenty of short-term fluctuations.

Discovering the top 10 potential altcoins, where are the opportunities? 💎

If you are looking for the 'next hundredfold coin' in this wave of market, here are a few potential altcoins worth paying attention to, for your reference:

  • STX: Bitcoin's Layer-2 solution, users can earn Bitcoin by locking coins, with great potential in the ecosystem.

  • LUNA: Rebuilt after a previous crash, if it can land payment applications, it is expected to rebound.

  • QTUM: A platform coin that combines Bitcoin and Ethereum technologies, suitable for developers.

  • ORDI: The first inscribed token on Bitcoin, scarce and has collectible value.

  • SATS: A decentralized payment coin with rich future application scenarios.

  • ACA: The DeFi hub of the Polkadot ecosystem, with stablecoins and lending having practical uses.

  • STORJ: A decentralized cloud storage token, with great market demand potential.

  • OXT: A privacy VPN token, with growth space as privacy needs increase.

  • MAGIC: A token for gaming and NFT platforms, benefiting from an increase in users and projects.

  • GHST: Combining DeFi and NFTs, with active in-game transactions and a stable ecosystem.

Investment advice for novices: Don't rush to chase highs, patiently wait for opportunities ⏳

Although the current market is booming, the emotional fluctuations are large, and blindly chasing shorts or highs may lead to losses. Short-term operations should be flexible, with good risk control; while long-term investors can focus on projects with strong fundamentals and advanced technology, waiting for better buying opportunities.

Summary

This wave of market has shown everyone the vitality of the crypto market, the strong performance of BTC and ETH has given the market more confidence, and altcoins are also expected to rise accordingly. However, whether the 'altcoin season' has really arrived still needs market validation. Regardless, maintaining rationality, diversifying risks, and focusing on the fundamental aspects of projects are our most reliable strategies in this volatile market.

Are you ready to embrace the next wave of opportunities? The crypto market is always exciting, let's witness it together! 💪✨

✍️ DYOR, manage risks well, and may everyone set sail in the crypto world! 🌊

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