Bitcoin's highest yesterday was 119676, and the lowest was 116515, with a fluctuation of 3161 points. Ethereum's highest yesterday was 3860, and the lowest was 3701, with a fluctuation of 159 points.
Today's analysis:
1. StablecoinX Inc. raised $360 million to purchase $ENA and plans to list on Nasdaq (code 'USDE').
2. The rise of Pengu drove the floor price of Penguin NFTs up by 15.6%. The community is rumored that Punk will issue a coin, and its NFT also increased; Bitcoin ecosystem NFTs surged, with Taproot Wizards rising over 30% in a single day, and Node Monkey rising by 28.2%.
3. Institutional private placement addresses sold 25.5 billion PUMP tokens in the past week, making a profit of $39.65 million, and PUMP is on the verge of breaking even.
4. GOR (SOL fork chain) performed well, and community enthusiasm is high, to be observed in the future; VINE is closely related to Musk, and the founder has released a long video or is about to go live, integrating with x shows great potential.
5. ANI's market cap has returned to over $60M, while other targets show mixed performance.
6. After the rise of ETH in the CEX, the SOL ecosystem takes over, and sector rotation continues.
7. This round of narrative is driven by MicroStrategy, focusing on cryptocurrencies and ecosystems that have off-exchange company financing purchases, such as BTC, ETH, XRP, BNB, ENA, SOL, DOGE, HYPE, LTC, etc.
BTC
Bitcoin rose for a day, with prices similar to when I woke up yesterday, but many people's positions have disappeared. Market liquidity is too good, making extreme spikes inevitable. It dropped to a minimum of 116128, and last night precisely ambushed at 116168, catching a spike to eat 81%. Fans who followed along remember to set a stop-loss at the cost price.
In the short term, as long as the market does not fall below 116400, altcoins can still continue to operate; but if it falls below, it will directly fill the gap at 114000. Be cautious with contracts, and always set stop-losses; otherwise, it's too easy to become harvested liquidity — the spikes are aimed directly at those trading contracts.
ETH
Ethereum's price increase has noticeably slowed down in recent days. I've heard that Sun has started to sell the ETH he bought (a master of the ETH cycle, adept at bottom fishing and peak escaping), but ETFs are still buying. Currently, we are only 6.2% away from the $4000 level, and most people have already recovered their losses.
Those with faith can continue to hold and wait for ETH to rise above $4000; those without faith can exit after recovering their losses and making a profit. As for how the market will move next? Personally, I hope it can rise near $4000 to give me a shorting opportunity!
Yesterday's article (July 21 analysis: Absorbing $5 billion! Will Bitcoin collapse after being 'drained'? Will ETH break $4000? What to do if sold too early? The rise of NFTs, this coin still has room to grow!) has made it very clear, trading in waves is the most comfortable.
SOL
I previously reminded about the 185 - 188 range, with the daily closing above 188, it would surely test 200, and it has been verified as expected. The previous resistance at 188 has now turned into a key support level. As long as it does not fall below here on the daily chart, SOL still has upward momentum. It dipped to 194.1 at noon, and I immediately took a wave trade, earning 125% comfortably.
Currently, we are in the third wave of altcoin season since the bull market began, with the altcoin index rising to 61. The previous two occurrences were in October 2023 and November 2024.
The current small goal is for ETH to break through 4100 points, and for the altcoin index to exceed previous highs. After breaking through, there will likely be significant fluctuations, leading to a shakeout; while BTC will rise in turn with ETH and altcoins. Currently, BTC is in a consolidation phase, while altcoins are showing strong upward momentum.
On-chain
Old horse AI trio leader $ANI has a market cap back to $60 million!
The core of playing with meme coins: follow the money, playing memecoins is essentially about emotional hotspots.
1. Hot spots are coming: chase the new, not the old; funds are flowing to the eye of the storm. If you can’t catch the center, then hover around the periphery, keeping a close eye on first-hand information. When the hot spot recedes, control your greed and withdraw in time.
2. When there are no hotspots: funds flow to small whirlpools or surviving leaders, such as Old Horse AI trio, Wang Chai, and Bee Dog, which are stable, continuous, and low-risk.
Chasing small hotspots burns money; hold your hands and wait for a big wind. The principle is simple, following this logic, you can always catch a few opportunities in the meme coin sector.
