Recently, this market can be said to be getting more and more outrageous.
Since the strong surge on the 10th, Bitcoin has entered a sideways trend, the movement is basically in line with my expectations from the 15th article: moving sideways, neither strong nor weak, indeed at the mid-late stage of a potential change.
But what really made the market explode is Ethereum.
ETH is going crazy, TVL surging + ETF on the horizon!
Over the weekend, ETH seemed to have taken something, jumping from 3400 straight to 3800, approaching last December's peak. Even more explosive is that trading volume once surpassed Bitcoin. This wave of increase was clearly not driven by retail investors; both on-site and off-site funds jumped in - many DeFi protocols' TVL surged, indicating that leveraged funds are also moving.
The key point is that the ETH staking ETF is coming!
It is said that the SEC is no longer about 'whether to approve or not', but about 'how to approve': whether to approve all applications at once or one by one in order of submission. The essence is no longer about whether it can be approved, but how to satisfy everyone.
As BlackRock was the 'last' giant to submit, it unexpectedly made other institutions unhappy - but referencing the previous Bitcoin ETF, this time it is likely to be approved uniformly. Bloomberg is also hinting at this.
Institutions are frantically grabbing, can't buy ETH in the OTC market?
You can imagine, wealthy individuals taking tens of millions to purchase ETH in the OTC market, only to be told 'out of stock'... What does this indicate?
They had to shift to on-site trading, which drove the surge. And there's an interesting logic: institutions originally just wanted to buy ETH first and switch products after the ETF was approved, but after coming in, they found, 'Hey? On-chain staking is so convenient and safe, do I really need to buy the ETF?'
Thus, the funds that originally planned to 'short-term trade' ETH might have stayed directly.
This also explains why Bitcoin has set new highs so many times, while altcoins seem stagnant, and as long as ETH moves, the entire altcoin market takes off directly!
The stablecoin bill that has been hyped for half a year was also passed last Friday, and Trump's team stated they would fully support it. Now, the crypto space is speeding up from regulation to capital.
Altcoins are dancing wildly, the main wave of the bull market is taking off! ETH is so strong, altcoins naturally cannot sit still:
#WLFI: Unlock voting has been passed, expected to be fully circulating within 6-8 weeks. The first batch may have already 10x, and the official also promised no team/advisor selling pressure in the initial circulation, it's simply a 'high-quality representative' among altcoins.
#pump: Although just broke even, the airdrop will come on the 24th. I prefer to wait for a dip before entering. The project has already seen good gains, currently not at a loss, and there may still be potential ahead.
#Plasma: This is one of the new public chains I am most optimistic about, with an FDV of only 500 million, backed by Tether and PayUSD, using BTC and USDT as gas, very stable. New offerings can be made before the 28th, must fill up the quota!
#CFX & #CKB: Concept coins are hot, $CFX has been 'officially certified' by Shanghai as a world-class public chain, and will also participate in the 'Belt and Road' stablecoin pilot, directly doubling; $CKB also followed up.
#DIA: Small market cap oracle, doubled directly after launching a new system, performing well.
Dogecoin's strong explosion, the king of memes is truly deserving?
DOGE's recent performance is completely in wild dog mode, breaking through 0.27, with a high point of 0.2785, and its market cap has soared to 35.8 billion, leaving SHIB far behind.
On-chain data shows that since May, DOGE holders have generally been profitable, and some 'old coins' have started to flow, with sentiment high. Technically, RSI is still strong, but the money flow (CMF) is starting to weaken, so beware of short-term corrections.
Focus on the 0.25 support level; if it holds, there may be another wave; if it doesn't hold, be cautious.
It’s worth noting that today Trump’s parody video again featured the #pepe meme, this time with the appearance of the clown pepe honkler.
Now is truly the golden window period of the mid bull market, with no shortage of hot topics, news, or funds; what's lacking is you not getting on board! In this afternoon's article daily report, it mentioned that SOL and PENGU would have a wave of catch-up, and just over two hours after the release, it started to surge! Is PENGU really going to crush PEPE this time? Recommended reading: Bitcoin 140,000 is not a dream, Ethereum aims for 4000? Altcoin storm, madness begins! LTC and PEPE lead the surge; DOGE and SOL expected to hit new highs?
Next, pay attention to the list of altcoins to observe:
$SOL : Today it touched 190 again, still strong, optimistic; RAY, JUP, JTO in the ecosystem will also follow suit.
#JTO : In the short term, fluctuating within a box, if it holds 1.8, look for an attack on 2.4; a breakthrough would allow for further expectations.
#ADA : After breaking through a small range, the target is 1.16, with the boundary of a large range becoming critical.
#KAITO: Short-term fluctuations await breakthrough, currently not recommended to operate.
#ETHFI, Eigen, $LDO etc.: ETH surged sharply but these reactions lagged, I think it will be quick, no problem to ambush a position.
Now the altcoin season index has skyrocketed from 15 to around 57. If this wave of ETH can successfully break through 4100, or even hit the historic high of 4868, it can basically be declared - the altcoin bull is here!
Now there are too many good coins, don't aim for all, being able to catch 3-4 strong coins would be enough.
That's all for the article! If you're confused in the crypto space, consider joining me in laying out strategies and harvesting from the market makers!
