Yesterday, Binance listed MET, which is also the first new project in the Solana ecosystem after two months. The last one was PUMP, and before that, it was KMNO on May 6.
Why hasn't Binance been listing Solana projects much this year? It's actually quite simple—public chains also have to compete for 'traffic'. Previously, most of the large flow in spot trading went to Solana's business, while this year, Binance is focusing on supporting the BSC ecosystem, so there are fewer listings from Solana.
So why was MET suddenly listed yesterday? On one hand, the recent 'listing effect' has visibly worsened; essentially, a listing equals a peak. On the other hand, MET itself is of excellent quality and it's hard to justify not listing it.
In fact, the 'ambush code' I hinted at a few days ago is MET. Based on its fundamentals, I felt that Binance would likely list it.
From the first mention of 0.35 in the live broadcast, to 0.4 the next day, and then to 0.5, peaking at 0.56, those who entered in the first batch actually had very clear profit-taking opportunities.
Of course, everyone saw the performance after MET went live last night: it dropped all the way from 0.5 to below 0.4, but now it has bounced back.
But this trend also reflects one thing—the market sentiment is truly poor, and everyone almost regards the 'launch' as a 'good time to sell.'
I myself did not take profits and even added a few positions in between, so I am currently slightly underwater. However, I still have a favorable view of this asset; it's just a pity that it went live too early, which has exhausted the positive expectations.
I plan to hold it for the medium to long term, with some trading in between using grid strategies. My ultimate target is set quite far: 0.8 - 1U.
In fact, the projects MET and BANK that went live yesterday clearly show that market sentiment and liquidity are not doing well.
According to previous market conditions, such a major positive news of 'going live' would easily double.
In the early hours, the market dropped again, and Bitcoin directly fell below 100,000, continuing to show weakness overall.
Of course, this drop can be said to have been 'dragged down by the U.S. stock market,' but in my view, the recent performance of the crypto market can only be rated as failing.
Moreover, once this kind of weakness becomes habitual, it will attract more selling pressure.
Now the key point is whether Bitcoin can regain the 100,000 mark in the short term. If it drops too much, it is very likely to continue downward, even towards 90,000.
I have to say, with the year-end approaching, many funds need to do settlements or accounting, making it very difficult for the market to have a one-sided upward trend.
It has been a month since the big drop on 1011, and currently, there are still no signs of a complete adjustment.
Based on this weakness, I feel that at least we need to wobble for another month, so the probability of a big market trend in 2025 is already very low.
Currently, there are only two things we can look forward to:
1) The adjustments in the next 1-2 months should not be too harsh; it would be best to have a few small rebounds so that the grid positions can gradually lower the cost;
2) After the adjustments are over, there is a chance to break the so-called 4-year cycle, following the interest rate cut cycle + the rhythm of the U.S. stock market, and then we can expect a big wave.
#代币化热潮 $BTC #加密市场观察 $ETH #美国结束政府停摆 $SOL
Right now, we must wait for the price to stabilize before buying; we can short at key positions that may still pull back, like the short position at 3549 yesterday, which was very good, with many core players making several times their investment, and some made quite a few times! The least made over 80 points, just at the 4-hour resistance level. There are also many who stayed up late, and after the 4-hour resistance was broken, they added short positions again and also saw gains.
