Market Trends
The cryptocurrency market has recently exhibited divergent trends. Bitcoin (BTC) has fluctuated between $116,000 and $126,000, significantly impacted by CPI data and expectations of a Federal Reserve rate cut. Ethereum (ETH) has performed strongly, breaking through $4,300, with continued inflows of institutional funds. Altcoins have seen divergent performance, with funds favoring high-quality assets. Competition in the stablecoin market has intensified, with Circle planning to launch its own dedicated L1 chain. The overall market is driven by macroeconomic factors, and the impact of CPI data on risk appetite warrants careful attention.
Mainstream currencies
$BTC
Currently fluctuating around 118k, institutions continue to increase their holdings (e.g., Metaplanet bought 518 $BTC), but low trading volume warns of a short-term pullback risk. Key support lies between 117k and 117.6k, suggesting a bullish outlook if this holds. Macroeconomically, CPI data may trigger volatility, but the long-term bullish trend remains intact.
$ETH
After breaking through $4,300, institutions continued to increase their holdings, with Blackrock purchasing $141 million in spot ETFs in a single day. On-chain data shows that the number of $ETH addresses holding over 10,000 $ETH reached a one-year high, indicating strong fundamentals. If the price stabilizes at $4,000, the short-term target is $5,000-7,000. DeFi derivative innovation is driving the ecosystem's prosperity, so it's recommended to invest on dips.
$SOL
Short-term pressure is evident as whales continue to sell to exchanges. Support is emerging in the 165-176 range, but caution is advised against a break below. Following $BTC sentiment, a rebound may occur if CPI data is positive. The ecosystem is active but capital inflows are insufficient, so proceed with caution.
$BNB
BNB has recently seen significant institutional purchases (BNC bought 200,000 coins), demonstrating strong fundamentals. In the short term, it will be suppressed by Bitcoin-led market trends, but if BTC breaks through $141,000, BNB will surge. With a target price of $2,039, the current price presents an opportunity for undervaluation. Be wary of the volatility risks associated with US-linked stocks.
Popular coins
Recent strong performance, combined with Pendle's high-yield derivatives and exchange activity, suggests a short-term bullish outlook. However, caution is warranted regarding regulatory developments and capital flows. Continued strength in competing products like LDO could divert funds. Key support is at 1U; a break above 1.5U suggests higher prices.
Recent sentiment is buoyant, retail interest is returning, and the partnership with ICE to bring FX and precious metals data on-chain suggests strong fundamentals. While the market may face short-term pressure due to large transfers to Coinbase, the long-term outlook remains positive. Keep an eye on the 2x target and add to your position if it breaks through.
As the core token of the Hyperliquid ecosystem, it has recently attracted significant investment (e.g., Machi's $21 million holding). Its value is supported by innovative derivatives protocols (such as HIP-3 permissionless perpetual contracts) and DeFi LEGO components (CoreWriter cross-chain interaction). While the short-term outlook is bullish, it's important to note that HIP-3's daily limit on new tokens may hinder ecosystem expansion.
$PENGU
The recent surge in popularity and the launch of zero-fee contract trading on MEXC may stimulate short-term liquidity. However, caution should be exercised regarding the risk of a post-TGE pullback. Long-term support lies in the growth of the NFT ecosystem (e.g., the entry of CEOs from listed companies) and community activity (20 billion views). In the short term, watch for volatility opportunities arising from trading activity, while in the long term, observe the progress of actual applications.
$IP
Recently, the public company CASK's 360 million reserve plan and institutional financing from a16z and other institutions have attracted attention. The buyback and burn mechanism may increase scarcity, but be wary of negative news about foundations selling tokens at low prices. Short-term bullish outlook, but market sentiment needs to be monitored.
$BMNR
As the leading Ethereum treasury, it holds over 1.2 million ETH (1% of the total), and has recently surged 100%. The development of the ETH ecosystem (L2, RWA) supports its long-term value, but high volatility risks warrant caution. If the ETH bull run continues, $BMNR may continue to benefit, so watch for pullback opportunities.
$BONK
Recently, Safety Shot received $25 million in funding from Nasdaq-listed company Safety Shot, with 90% of the proceeds going toward token repurchases, creating strong buying support. Combined with the growing popularity of the SOL ecosystem and institutional investors, the short-term outlook is bullish. However, caution is advised regarding MEME's high volatility; we recommend investing on dips, aiming for a breakout above previous highs.
$PENDLE
PENDLE has recently shown strong performance, with its price rebounding from $5.3 to around $5.5. The launch of the Boros platform has opened up new growth opportunities for the platform, strengthening its position in the interest rate derivatives sector. With DeFi TVL reaching new highs, PENDLE, as a leader in the sector, possesses high growth and innovation, and continues to have upward potential. In the short term, watch for resistance at $5.8, with a breakout likely to test the previous high of $7.5.
$XRP
A recent breakout above the weekly trendline suggests a bullish technical outlook, with a target price of $5. However, caution is warranted regarding its reputation as a pump-and-dump coin and its weak marketing team. If BTC continues to rise, large-cap coins like XRP may follow suit. With a supply of 5.9 billion/10 billion, a surge in demand could drive prices higher. Short-term trading opportunities exist, but overall market liquidity should be monitored.
The above information is automatically generated by @xhunt_ai and does not constitute investment advice.
