Bitcoin reached a high of 119,940 and a low of 115,736 yesterday, with a fluctuation of 4,204 points. Ethereum reached a high of 3,144 and a low of 2,932, with a fluctuation of 212 points. Last night saw a spike, and the liquidity of long and short positions is being rapidly harvested. A total of 106,261 people worldwide were liquidated, with a total liquidation amount of $353 million.
Today's hot opportunity:
1. Federal Reserve policy: The CPI report does not affect the direction of Federal Reserve policy.
2. Federal Reserve Chair succession: Treasury Secretary Besant stated that the process to select Powell's successor has been initiated and will proceed at Trump's pace. The market expects a 100% interest rate cut in September, but the influence of the 'shadow Federal Reserve' remains to be observed.
3. Ethereum ecosystem: ETH is on the rise, pay attention to strong targets like ena, aave, uni, eigen, ethfi, arb, etc.
4. SOL buyback: 187,770 SOL (approximately $30.53 million) transferred to the buyback address within 9 hours, with 3 billion #PUMP (approximately $19.1 million) purchased.
5. On-chain dynamics: useless, ANI continue to hit new highs, #WangChai and other Chinese element coins perform strongly.
6. CEX market: The BSC ecosystem performs the strongest, while other targets are lackluster. BTC and ETH need to continue rising to boost market sentiment; leading meme coins, public chains, and AI may surge.
BTC
Yesterday, BTC's performance was mediocre, briefly breaking below 116,411, giving countless short sellers hope, followed by a peak in the early morning. In my article yesterday, I suggested 'locking in profits before the CPI data release and re-entering after a pullback.' I opened a long position at 116,726 and achieved a profit of 104.09%; this trade went quite smoothly.
Bitcoin dropped from 118,400 to 115,600, nearly falling by 3,000 dollars within an hour, rebounding after hitting a key daily support level. The three drops did not break the support, and the CME gap was almost filled, with the rise from yesterday to today driven by $ETH.
On the 4-hour chart, volume has decreased, and the price will definitely reach 114,000 in the short term. It is uncertain whether it will be a quick spike or a bearish candlestick drop. If it spikes, 114,000 is a good point to enter long; if it’s a bearish candlestick, wait for a confirmation before entering long.
The logic behind this wave of increase
We've previously discussed that this is speculation regarding interest rate cuts in September; the sale of 80,000 bitcoins does not significantly impact the larger trend, at most it affects the price within the day.
Don’t shout 'the bull is gone' just because there’s a drop, and don’t throw your electric vehicle into the river just because there’s a rise. The current pullback is temporary; the rise is the main theme. Holding onto your coins is better than anything else. When the interest rate cuts actually land, perhaps that will be when the risks come!
ETH
Ethereum hit a new high of 3,152 dollars; ETH's U and B denominations have broken through, marking a significant milestone. I hinted at this surge: two days ago in my article, I said: 'If ETH wants to rise, the main force is waiting for a signal, to see if BTC's market stabilizes.' In yesterday's article, I reiterated: 'ETH's recent rise is strong, with almost no significant pullbacks, and retail investors are mostly bullish.' I opened a long position at 2,961, making a massive profit of 479% and am looking for opportunities to enter again after taking profits.
Reason: Although there is a rapid rise in the short term, if Bitcoin continues to fall, Ethereum's independent rise will be hard to sustain and may face pressure near $3,200. Both the 4-hour and daily lines stand firm at 3,030-3,060; if they do not break, the upward potential could reach 3,300.
Review
$DOOD
Yesterday, the public order DOOD started to surge last night, with a peak price of 0.0046, achieving a profit of 306.84%.
$SUI
On the 10th, I suggested laying out spots at a price of 3.11, and by Monday, I had achieved 339.84%. It's also a quality coin I've consistently favored; the current price has reached 4.108, yielding a 32% profit on the spot.
$SEI
On the 14th, I suggested laying out spots at a price of 0.34, and the highest price has now reached 0.39, yielding a 14% profit on the spot.
Is the altcoin season confirmed?
The awkwardness of this indicator is that when you realize the altcoin season is coming, the altcoins have already risen by 25%. This is fine for right-side traders, but clearly difficult for left-side traders to accept.
PENGU made another $40,000 in this wave; here are a few observations:
The long shadow at 0.033-0.034 (red box above) could indicate many scenarios: significant disagreement among retail investors? Distribution by whales? Or new forces entering the market; 0.031 (red box below) is a key volume level from a previous high, which has already retested once; losing this level would be quite dangerous; 0.033 is the spot opening price on Binance;
My overall strategy is conservative; I almost cleared out my SELL positions. Making money in the secondary market isn’t difficult, but the challenge lies in executing the exit strategy.
On-chain
$RUDI continue to add positions around 2 million! ETH stabilizes at 3,000, but E-chain has poor liquidity; SOL is more suitable for playing with dogs.
$Ani continues to hit new highs, momentum is strong, #RUDI has a better cost-performance ratio; as long as $Ani does not significantly pull back, RUDI's upper limit space is large. If the new token P does not win, just hold onto the old token little dog!
The official Twitter of the leading American party token on E-chain, $AP, has been unblocked; this project is getting lively again!
The bottom position I left at 7 million did not get me out, as I sold off more than half of my position when I had 25 million, and my initial cost was 4 million. Dog whalers are reborn; if you have the ability, break the previous high!
