Today is Saturday and there are no important data/events.
1. Bitcoin and Ethereum experienced a slight pullback after a sharp rise yesterday, entering a consolidation phase. Today, being Saturday, there is no news to drive the market, so a narrow range of fluctuations is expected to digest the profits of the bulls.
2. The strong rise of Bitcoin and Ethereum in the last three days warrants a review of the reasons for this increase-
① Ethereum has been particularly strong recently. The reason for Ethereum's independent strength is that some U.S. listed companies have been continuously purchasing Ethereum for hoarding (similar to MicroStrategy's hoarding of Bitcoin), which may lead to more companies following suit (Ethereum may maintain a phase stronger than Bitcoin, which is worth paying attention to).
② Recently, the tariff war has seen Trump delay the tariff increase to August 1;
In the Middle East, the ceasefire between Israel and Iran, and negotiations between Israel and Hamas have temporarily calmed down;
The large American infrastructure bill has resolved the U.S. debt ceiling issue; several major negative events have been temporarily lifted;
③ On the interest rate front, Powell's rhetoric has softened in the past two weeks, and at 2 PM on Tuesday, the "FOMC Meeting Minutes" will be released, showing a divide into three factions: one believes a rate cut can happen in July, another believes it should be later; meanwhile, both Bessent and Trump are continuously pressuring for a rate cut—causing market expectations for rate cuts to rise.
④ The SEC is adjusting its crypto regulatory framework, easing the difficulty of ETF approvals and shortening the process, which is favorable for capital inflow into the crypto market.
⑤ Next week is the House of Representatives' "Crypto Week," which will focus on reviewing a batch of crypto bills— the market sees this as positive news.
⑥ Therefore, currently, Bitcoin and Ethereum are in a rising wave at the daily level, and it is expected that Bitcoin will break 120,000, and Ethereum will look at 3,200-3,500;
Altcoins are also experiencing collective surges, with most low-priced altcoins rising sharply, shifting the entire market atmosphere to be bullish,
Focusing on going long, and viewing pullbacks/sharp declines as opportunities to enter long positions.
