(This article really belongs to the category of spreading the word, hoping it gets shared widely)
1/
ETH is replicating BTC's performance in traditional markets and is being re-priced by Wall Street.
In the second half of this year, stronger price performance is expected.
2/
Besides BTC and ETH, other tokens follow similar models to MSTR or SBET, and are more speculative in nature.
The difference is:
Speculative: To drive up for selling.
Grounded: to reprice.
In the future, this distinction will become increasingly apparent.
3/
SOL may be entering a 'great retreat'.
We need to wait for new narratives to drive prices back up.
4/
Binance Alpha model needs to be re-evaluated:
Mixing good projects with bad projects, the overall yield may exceed the yield of the first week, worth close attention and active participation.
5/
The market structure has changed.
After BTC's sideways movement, the previous 'altcoin rotation' market is difficult to reproduce.
In the future, more funds will rotate from BTC to ETH, and the rise of altcoins will tend to be speculative wave trading.
6/
📌 Who is the true main force in the market?
Not ETF (mainly retail), nor CTA/quant (trend following), nor CEX/MM (passive liquidity providers).
But rather: directional hedge funds, like Galaxy and Millennium Management, are the true market makers.
These 'whales' dominate the momentum of BTC's movement.
When they start building positions, other trend followers (CTA, MM) and retail investors will take over, pushing the overall market to form a 'synergy'.
This also explains why many traditional indicators have begun to fail—the market driving forces have changed.
What is truly effective is understanding who is leading the starting point of the trend.
Treasury-type companies (like MSTR) buy through OTC methods, which will not affect market fluctuations; they are neither 'whales' nor funds that dominate market trends.
7/
💥 Tom Lee (Bitmine Chairman) has led a $250 million ETH strategic reserve plan, which has been recognized by Wall Street.
Wall Street institutions are reconstructing the pricing model for ETH.
ETH is the bridge for stablecoin liquidation.
Currently, over 50% of stablecoin liquidation occurs on ETH.
The expected scale of the stablecoin market is $2 trillion:
According to CRCL PE 300, based on PE 100, ETH should break ten thousand dollars, and it is currently far from being reasonably priced.
8/
The current core view of Wall Street on Crypto:
1. Tokenization of US stocks
2. Tokenization of US stocks
ETH is the biggest beneficiary in this logic.
9/
Genesis Act and stablecoin regulatory dividends do not involve chains like SOL, BNB, etc.
The current established macro pricing logic only supports BTC and ETH.
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Summary:
BTC, ETH = grounded logic, institution-driven, trend synergy.
SOL, BNB, and other altcoins = currently not established, lacking legal and institutional support.
The real main force has shifted from retail and rotation logic to directional hedge funds.
