$BTC started to pull back at the position of 120,000, which is quite in line with our previous market analysis expectations. In fact, we can clearly see that this time the increase in volume is not very large, so the liquidation or surrender of shorts is also an important factor driving this new high. In the past 24 hours, another 580 million in short positions were liquidated, and of course, there are stop losses that are not counted here.

Currently, the RSI at all levels of Bitcoin has exceeded 90, which is already very oversold, indicating a significant risk. Caution should be exercised when chasing long positions in the short term, and shorting should be prioritized, especially for altcoins that have seen huge gains.

Is there really an altcoin season?

I believe there is definitely a partial one; PENGU is currently a big favorite, and I don't know why the crypto community is collectively promoting this penguin. MEME doesn’t really have any logic to it; it has risen nearly tenfold from the bottom, and one can buy the dip on this.

Apart from the RWA° sector, the AI sector in altcoins is still worth investing in. AI + cryptocurrency currently seems to have no application, but this could be a blue ocean.

The payment sector may become a hot spot after the appearance of stablecoins, but payment is a property inherent to blockchain itself. I don't know what new tricks can be done in payment. Speculation is expected, as coins like Ripple and HBAR related to the US and payments have also surged in the past few days.