According to the current liquidation map, the market is currently dominated by short positions. Based on the current Bitcoin price around $117,700, if the market fluctuates within $2,000 in either direction, rising again to around $119,700 is expected to result in a cumulative potential liquidation of approximately $1.02 billion in shorts. Conversely, if the market falls to around $115,700, it is expected to lead to a cumulative potential liquidation of approximately $1.184 billion in longs. Yesterday, Bitcoin spot ETF saw a net outflow of $83.4 million, while Ethereum spot ETF had a net outflow of $5.1 million.
Market direction is primarily sideways, with the current market and Ethereum trends indicating a general daily level of consolidation. The market is currently more focused on upcoming news, and caution is needed to prevent large fluctuations. Additionally, most altcoins have slowly retraced, and the strategy for Ethereum remains unchanged, focusing on short-term waves. Furthermore, pay close attention to US-China trade negotiation news; if substantial progress can be made, it would be a boon for various financial sectors, helping to avoid another large fluctuation.
The three most stable 100x altcoins in a bull market!
1.OMNI
Omni Network has recently attracted traders' attention, with its price soaring 109.55% in 24 hours, followed by a 115.91% increase over 7 days, and a staggering 271.96% rise over 30 days. The main catalyst for this increase was its listing on South Korea's top exchange, Upbit, on July 29. This platform is known for its 'Upbit Effect,' providing instant exposure opportunities for over 8 million retail users, thus boosting trading volume and liquidity. After listing, OMNI's trading volume surged to $586 million, accounting for nearly 40% of the global trading volume for the Korean won pair.
From a technical perspective, OMNI has broken out of a downward channel, surpassed the resistance level of $4.90, and reached a peak of $5.40. Although its RSI has touched 84, indicating an overbought market, the momentum is clearly bullish. Indicators like MACD confirm this trend, and the Fibonacci retracement tool points to $7.89, which could be the next target. Meanwhile, Bitcoin has hit $118,000, boosting overall market sentiment. The altcoin market may be slowing down, with its index dropping to 38, but OMNI's rebound remains related to specific projects.
Nevertheless, caution is necessary. The top ten holders own 90% of the OMNI supply, and such concentration may lead to market volatility. The MACD histogram has also turned negative, and the RSI has dropped to around 53, indicating a possible consolidation. Trading volume has decreased by 78% in the past 24 hours to $35 million, suggesting a weakening market momentum.
Beyond the price, the mission of Omni Network is equally compelling. Supported by Coinbase Ventures and Pantera, Omni Network aims to unify Ethereum rollups and banking under one protocol. Its $10 million incentive program, recently launched Binance wallet staking service (with an annual yield of 11%), and the continuously evolving ecosystem continue to attract developer interest.
2.BANANAS31
From the casually nostalgic Vine Coin to the creatively disruptive Animecoin, Banana For Scale continues this momentum. This meme token has rebounded strongly with an astonishing increase of 23.37% in the past 24 hours. Its trading price is $0.0082, indicating that the token has risen by nearly a quarter in a day, strongly suggesting renewed investor interest in Banana For Scale after weeks of decline. The driving force behind this rebound is its amazing 2584% daily trading volume surge, exceeding $1.35 billion, with its trading volume to market cap ratio reaching as high as 16.7, indicating extremely high liquidity and short-term market activity.
The inspiration for 'Banana For Scale' comes from a meme immortalized on Reddit due to Elon Musk's SpaceX 31 sticker. It is not just a joke coin. It deeply engages with cultural humor while uniting the community with lighthearted content. An image of one banana holding another, placed on a real rocket, is not only comical but also a memorable brand image. In today's plethora of new meme coin investments, this viral recognition gives it a real edge.
However, not everything is smooth sailing. Banana For Scale has fallen 38.2% over the past month, nearly 101% below its 200-day moving average. A few weeks ago, it set an all-time high of $0.059 but has struggled to recover since. Nevertheless, the token had 57% of its days in the positive last month, with a volatility of 51%, showing healthy buyer activity despite the rollercoaster fluctuations.
For high-risk traders who chase fast momentum and leverage peaks in meme culture, BANANA has attractive upside potential. Its low entry price, huge trading volume, and the current 'greed' sentiment in the fear and greed index indicate strong short-term demand. However, it remains a speculative investment best suited for those who understand the rapid changes in meme cycles.
3.HYPE
HYPE's recent price trend has been mild, increasing by 1.03% in the past 24 hours, but fundamental indicators suggest the possibility of a larger increase in the future. Currently, the market's focus is on Abraxas Capital, which holds a vast amount of unsettled short positions in various crypto assets valued at over $800 million.
Among them, the $6.83 million unrealized loss is related to its HYPE short position, executed with 10x leverage at around $45.53. Given that the current trading price of the token is close to $44.75, the liquidation risk is rapidly increasing. A short squeeze remains possible, especially if HYPE breaks through the recent high of $45.06.
From a technical viewpoint, the chart shows a bullish consolidation. Prices are above the 50-day moving average (EMA) at $40.68 and the 100-day moving average (EMA) at $35.61. Whales are consolidating futures activity between $35 and $45, forming a price bottom. The MACD indicator is leveling off, and the RSI is at 54, showing neutral momentum. If volume recovers and resistance levels are breached, Fibonacci levels suggest a rise to $57.88.
Fundamentals also favor an increase. Pear Protocol recently secured $4.1 million in funding and integrated with Hyperliquid, promising to bring new traffic to the platform. This project has captured 70% of DeFi trading volume, and the points activity in the third quarter continues to attract traders. At the same time, 97% of the platform's revenue is used for token buybacks, creating sustained demand pressure.
Market sentiment is 'greed', social indicators lean bullish, and dominance and whale-driven activities have surged. If HYPE can break through key resistance levels and force Abraxas to liquidate, it may trigger a wave of demand. With growing utility, strong fundamentals, and trader interest, HYPE may be quietly becoming the next explosive cryptocurrency.
Brothers, gather in the chat room quickly:
