Market trend
The overall cryptocurrency market currently shows a volatile adjustment trend, with sentiment turning to panic (index 44). The key support level for BTC is at $112,000-$113,000, while ETH is oscillating in the $4,000-$4,100 range. The market is influenced by multiple factors:
1. Macroeconomic: Divergence in expectations for Federal Reserve interest rate cuts, with funds seeking safety ahead of Powell's speech;
2. Structural: Funds concentrating on top assets, significant differentiation among altcoins;
3. Liquidity: U.S. Treasury withdrawals causing short-term pressure, but selling pressure may weaken after October;
4. Leverage risk: High leveraged contracts facing liquidation pressure, with ETH long and short liquidation thresholds at $4,300/$4,000.
Institutional long-term layouts continue (such as ETH staking, ETF inflows), but caution is needed for increased short-term volatility. The market may enter a structural bull market, making a widespread rally unlikely.
Mainstream coins
$BTC
Recent volatility has increased, with long-term holders turning to distributions, but the continuous decline in exchange inventory shows buying support. Key support is in the 111K-112K range, and Powell's speech on Friday may serve as a turning point. Macroeconomic uncertainty is increasing, cautious in the short term but still optimistic in the medium term.
$ETH
Recently displayed a volatile trend, with frequent large transfers indicating institutional activity. Key support is in the 3478-3730 range (BMNR/SBET cost price); if it holds, a rebound may occur. However, ETF fund outflows and unpegging pressure present short-term resistance. In the medium to long term, on-chain activities and institutional accumulations (such as BitMine buying 52,475 ETH) still support the fundamentals. Attention should be paid to whether the 3.95-4.15k range can break through.
$SOL
Recently, on-chain activity has been high, with noticeable inflows into new projects. The technicals suggest that the 6-month downward trend may be ending, with strong short-term rebound momentum. However, high volatility risks should be noted, as eco-tokens like $BONK have shown weak performance. Bernstein is optimistic about $SOL's performance in a bull market but warns of market adjustments. It is recommended to accumulate on dips and control positions.
$BNB
Recent performance has been steady, resilient during pullbacks. Binance wallet activities and Buidlpad new offerings provide high-yield opportunities, such as Mitosis airdrops and Lombard subscriptions, which may bring short-term catalysts. However, attention should be paid to the overall market volatility risk; BNB may be bullish if it breaks through key resistance.
Popular coins
Recently broke through $26, with institutional adoption and the RWA narrative driving the price up. Technically, if it holds above $26, it may challenge $30. The fundamentals are strong, with Chainlink monopolizing the middleware market, and enterprise revenue turning into LINK buying. Short-term pullbacks can be seen as buying opportunities, with stop-loss set below $25.
Current market capitalization is $17 billion, accounting for 75% of the PERP market share, with a team of only 11 people and refusing VC investment, demonstrating strong fundamentals. Recently, prices have fluctuated in the $39-$43 range; if it holds above $43, it may be bullish, while falling below $39 could be suitable for building positions. 92% of revenue is used for buybacks, with excellent token economics and great long-term holding potential. Short-term focus on market sentiment and whale position changes.
Recently gained significant benefits from landing on Robinhood, as traditional retail entry will accelerate liquidity injection. Technically, its optimized Move architecture is more suitable for high concurrency scenarios in GameFi/NFT, and TVL has surpassed Aptos. Short-term trading opportunities are skewed towards the upside, but initial volatility risks should be noted.
$AVAX
Recently gained strong fundamental support due to institutional adoption and stablecoin layouts. Skybridge Capital's $300 million asset tokenization and the launch of multiple stablecoins on the Avalanche chain indicate ecological expansion potential. After a technical pullback, there may be buying opportunities, but market overall volatility risk should be noted. Short-term bullish, targeting previous highs.
$LIGHT
Recent performance has been strong, nearing historical highs, with whales increasing their holdings by 8%, showing confidence from large holders. However, the 1.5% transfer tax may impact liquidity. Heavendex's daily trading volume reached $81 million, with revenue used to repurchase $LIGHT, providing fundamental price support. Short-term bullish, but high tax burden may become a risk.
$PENDLE
Current TVL stands at $9.55 billion, with a 30-day DEX trading volume of $6.57 billion, and annual revenue of $43.72 million, demonstrating strong fundamentals. 37% of tokens are locked, with emissions tapering to 2% inflation, and clear price support. Sustainability analysis shows an emission coverage ratio of 1.47, with the system being self-sufficient. If liquidity continues to grow, bullish outlook; however, attention should be paid to ve concentration risks and reliance on Ethena. Short-term focus on Boros progress.
$TAO
The first halving is approaching, and reduced supply may drive prices up. Technicals indicate a breakthrough trend support, bullish in the short term. The deflationary model similar to Bitcoin and the decentralized AI narrative enhance long-term value. Focus on the $360 support level; if it holds, consider accumulation.
$MNT
Recent performance has been strong, with an increase of 100% in August. Deep cooperation with Bybit (collateral upgrades, Launchpool, etc.) and the addition of institutional advisors are core catalysts. Technical breakthroughs combined with fundamental improvements (TVL $1.5B, mETH protocol launch) create a resonance. In the short term, attention can be given to Bybit activities (with a $250,000 prize pool) bringing buying interest, but caution is needed regarding market pullback risks. Long-term, its 'bank-grade chain' positioning is worth tracking.
The above information is automatically generated by @xhunt_ai and does not constitute investment advice.