Currently, BTC is overall stuck in a consolidation phase, with a slightly oppressive trend, but this is often the 'calm before the storm.' Well-known analyst Marcus Corvinus points out that Bitcoin is accumulating energy within a converging triangle structure, with $116,000 as the key short-term support. As long as it doesn't break, the next target may point directly to $125,000. However, if it cannot hold, a rapid drop may occur, reaching $111,000 or lower.
Ethereum: Eight consecutive days of increases, strongly leading the pack.
ETH's recent performance can be described as 'ferocious as a tiger.' The daily increase exceeded 3%, reaching a high of $3,820, just a step away from last year's peak of $4,106. The last eight daily candles have all been bullish, with the momentum of continuous increases being very rare, indicating that capital's preference for ETH has reached its peak.
The market rotation structure is becoming increasingly clear: Bitcoin is stuck in consolidation, Ethereum is taking the lead to attack, and altcoin sectors are quietly starting up, with funds beginning to spread from large-cap coins to mid and small-cap projects.
Institutional view: BTC's consolidation shifts to a new track, with ETH leading the charge in igniting altcoin trends.
Rekt Capital points out that BTC's sideways movement has given other coins the opportunity to perform, with ETH being the first to ignite. Michaël van de Poppe also emphasizes that ETH's explosion is just the beginning, and the next round may see potential coins that have not yet 'taken off,' such as SOL, XRP, ADA, and other first-tier old names.
Meme momentum is cooling off, is #SOL ready to take over?
DOGE entered a consolidation phase after an earlier explosion; although its structure remains strong, the overall Meme track is beginning to cool down. DOGE's daily chart has formed a 'W-bottom' structure and is currently facing a key resistance zone. If it breaks through successfully, it will open up space for the next round of upward movement. Short-term suggestion: hold if you bought at the bottom, and those chasing highs should wait for a small cycle correction before entering.
In contrast, SOL is quietly gaining strength. As a popular candidate for sector rotation, its current technical formation is gradually strengthening, and if the rhythm aligns properly, it has a good chance of becoming the ignition point for the next wave of market.
Sector rotation rhythm: AI, MEME, and old coins are emerging one after another
The sectors mentioned yesterday have shown some performance:
AI: Projects like $VIRTUAL, $AIXBT, #WLD, $LPT are showing strong performance.
Meme: $PNUT, $BOME are rising together, with short-term capital being actively concentrated.
Small-cap old coins like yesterday's #CFX and today's DIA have also seen double increases; low circulation and lack of attention make them easier to explode.
After the DeFi rotation ends, market hotspots seem to gradually gather towards AI and Meme, and capital flow is worth close attention.
On-chain dynamics: whale rotation arbitrage is soaring.
There is a case particularly worth referencing: a whale exchanged WBTC for ETH in early May, and after ETH rose by 49%, converted the assets back to WBTC, netting 11 BTC in just two months, worth over 1.36 million dollars. Such rotation arbitrage operations are an important signal for us to observe market rhythm and emotional shifts.
Hot news: YALA launches on the testnet, is Binance's 'regular coin' about to take off?
Risk warning: The central bank's interest rate hike at the end of the month may lead to high-level fluctuations in ETH.
Don't forget, there is a potential black swan event on July 31—Japan's central bank interest rate hike. Although market sentiment is generally bullish, I personally maintain a cautious perspective.
ETH is currently rising rapidly along the upper Bollinger band, and market sentiment is extremely unified; almost no one in the group dares to short, making it easy to see 'spike' corrections. I also tried a small short position with light leverage; although it got stopped out, the direction may not be wrong. The key is still in grasping the rhythm.
In this market, it's never about who can chase the fastest, but rather who can endure the washout and survive.