Crypto_心诚

11.8

BTC
Yesterday's analysis for everyone was that if 100,000 is not broken, it would lead to a small-level rebound. Then it dropped to around 100,000 and bounced back up, welcoming a small rebound. The current market is like a monkey market, jumping up and down. At this position, the analysis remains unchanged: 100,000 should not be broken. There is a chance to touch the 106,000 position. If it cannot stabilize at 106,000, it will still test the bottom again. Overall, it will oscillate between 100,000 and 106,000. During the weekend, it is highly likely to focus on repair because the current market is just a minor skirmish and cannot drive a major trend. It still requires macro data and other aspects to cooperate. Support at 102,000-100,000-97,500, resistance at 103,800-106,300

ETH
Yesterday's analysis for Ethereum was that if 3,224 is not broken, there would be a small rebound, including the resistance above which is moving according to our expectations. The analysis is the same now; as long as it does not break 3,483, it will oscillate widely between 3,224 and 3,483. For this wave of market to continue strengthening, it needs to stabilize at 3,685, but I personally think it won't be so quick in the short term. So in summary, even if the larger level has stopped falling, it still needs a long period of oscillation and repair. Therefore, the strength of the short-term rebound will not be very high, focusing on wide oscillation, support at 3,365-3,228-3,038, resistance at 3,483-3,564-3,680

#隐私币生态普涨 $ETH $BTC

11.7

BTC
The large market trend, whether viewed from the weekly or daily perspective, indicates that this wave has not adjusted adequately. It is also difficult to support a significant short-term rise. Therefore, for the intraday view, pay attention to the second bottom test at the four-hour level; if it does not break below 100,000, there is an opportunity for a small rebound. If the rebound does not surpass 106,300, it will again trend downward. Thus, for the short-term intraday outlook, the focus will mainly be on fluctuations, with support at 100,000-97,600-95,000 and resistance at 102,800-104,500-106,300

ETH
Ethereum is similar; the larger trend has not stabilized. In the short term, attention should be paid to the four-hour level. If it does not break below 3,224 in the second bottom test, there is a small opportunity for a rebound. When rebounding, observe whether it can stabilize above 3,680. If it cannot stabilize, the downside risks should still be noted. Intraday, if it does not break 3,224, it will fluctuate between 3,224 and 3,483. Support levels are 3,224-3,025-2,820, and resistance levels are 3,380-3,480

#隐私币生态普涨

11.6

Yesterday's rise in the risk market led many to believe it was due to the impending end of the U.S. government shutdown, but there is currently no clear information indicating that the two parties have reached a consensus. A more likely driving factor is the probability of the Supreme Court maintaining Trump's global tariffs dropping to 29%. If the tariffs are ruled illegal, U.S. companies will face lower supply chain costs, improved profits, and relief from inflationary pressures, which would be most beneficial for industries such as technology, semiconductors, and cross-border manufacturing.
BTC's turnover rate has decreased today, with early market sentiment being weak. However, as expectations of favorable tariffs and market consensus that the shutdown will be resolved next week emerge, sentiment for risk assets is improving.

BTC
Bitcoin fell below 100,000 yesterday, but by the closing, it was back above 100,000. Currently, the overall downward trend has not changed, and it will likely fluctuate around the range of 100,000 to 106,300. As long as it does not stabilize above 106,300, the risk remains. For today, if this position does not break below 102,300, there will be a rebound, with the rebound focusing on 105,500-106,300, support at 101,500-99,300, and resistance at 105,500-106,300.

ETH
Ethereum's larger cycle has not fully stopped declining. Currently, for the daily level rebound, it needs to stabilize above 3,680 to continue the bullish trend; otherwise, it will fluctuate around 3,367 to 3,685. For today, if the smaller level of 3,367 does not break, there will be a small rebound, with support at 3,367-3,280-3,166-3,030 and resistance at 3,479-3,556.

#隐私币生态普涨

This chart is telling you that the floor is being 'propped up.' The continued high rate of SOFR above IORB is not a coincidence, but a direct manifestation of the thinning system liquidity buffer; as long as this state continues, short-end funding prices will be strong and financial conditions will actually tighten.

This brings us back to the original topic: the Federal Reserve's 25 basis point rate cut is not effective, and the currently tightening liquidity is equivalent to multiple rate hikes.

However, the ongoing government shutdown is becoming a major driver of liquidity exhaustion in the money market, with the U.S. Treasury General Account (TGA) balance ballooning sharply.

"As of last Friday, the Treasury General Account (TGA) balance has for the first time surpassed $1 trillion, reaching a nearly five-year high since April 2021. This means that in the past three months, the Treasury has withdrawn over $700 billion in cash from the market—soaring from about $300 billion in July to the current level.

The Treasury's large-scale 'cash absorption' behavior has directly led to the exhaustion of market liquidity. According to the Federal Reserve's H.8 report data, cash assets held by foreign commercial banks have become the biggest victims, plummeting over $300 billion from a peak of more than $1.5 trillion in July to $1.173 trillion. In fact, these funds have been appropriated by the Treasury to maintain daily expenditures during the government shutdown."

Therefore, we can expect an end to the U.S. government shutdown; the one who ties the bell must untie it. The shutdown has led to liquidity being absorbed by the Treasury, so when it reopens, liquidity will be released again, with gains and losses stemming from the same source.

So when will the U.S. government end the shutdown?

This standoff is gradually evolving into the longest government shutdown in U.S. history, surpassing the 35-day shutdown record from 2018-2019.

Goldman Sachs expects it to end around the second week of November, as the pressure from unpaid salaries for air traffic controllers and airport security personnel intensifies, potentially causing delays in air travel, especially before the second payday in November. Increasing operational and political pressure may force legislators to reach a compromise.

This will require the agreement of Democratic lawmakers, who have repeatedly blocked Republican efforts to restart government funding, making negotiations over healthcare a prerequisite for voting to end the shutdown.

Thus, for the government to reopen, either the Democrats must shift their stance, or the Republicans must compromise, promising to extend healthcare subsidies for a vote after the government reopens.

Why has Bitcoin continued to decline since the U.S. government shutdown?

On the surface, this process is influenced by the escalation of U.S.-China conflicts, leading to price declines. The price drop has awakened doubts about the end of the four-year cycle in people's minds, resulting in defensive rather than offensive actions, naturally hindering market sentiment.

However, the deeper reason relates to real liquidity issues.

The U.S. government shutdown has lasted for more than a month now. How has the financial system's funding tightened during this government shutdown period?

Despite experiencing interest rate cuts from the Federal Reserve during this time and determining when to stop balance sheet reduction, the problem of tight funding has not been resolved; in fact, it has continued to worsen. It is not an exaggeration to say that the U.S. government's shutdown is draining market liquidity, an effect comparable to multiple interest rate hikes. This has offset the Federal Reserve's 25 basis point rate cut last month.

The following chart, which is used to observe market liquidity indicators, shows that the SOFR-IORB spread has broken historical highs, far exceeding the Federal Reserve's excess reserve rate of 3.9%.

What is SOFR?: The Secured Overnight Financing Rate, which reflects the marginal funding price in the repo market;

What is IORB?: The interest the Federal Reserve pays banks on reserve balances (Interest on Reserve Balances), which is the policy floor in the “floor system,” representing the lower limit of interest rates.

From the chart, we see that from 2021 to 2024, the spread remained around negative 10 basis points, meaning SOFR is usually lower than IORB—indicating ample reserves and smooth operation of the floor system.

However, in the last few months of 2025: the spread has consistently risen above zero, and the 30-day moving average has also turned positive and is rising rapidly, with the highest daily peak approaching +30bp.

This indicates that liquidity has tightened, meaning that the overnight funding price in the market has begun to exceed the risk-free return of banks “sitting on reserves to earn IORB,” suggesting that the available reserves in the system are nearing the “sufficient lower bound.”

The recent market is really tough, the AI trading competition just ended, and even DeepSeek only made 5%, while many AI models have lost everything. The greed index has fallen to over 20! Should we be greedy now, or follow the fear?

Looking ahead, there are several factors
(1) The US government shutdown is turning into an opportunity, with both parties' top officials releasing a signal to restart.
The US government has been shut down for more than a month and should be able to resume operations by mid-November. One of the factors that the market has been panicking and worried about has been resolved.

(2) The average cost of BTC
Currently, BTC is hovering around the 100-day moving average, with profits only in the hands of ancient whales.
The overall network hash rate continues to rise, and miners are still investing money into their layouts.

(3) Future interest rate cuts
The US business community, congressional members, and former government officials are uniting to "besiege" Trump, just to eliminate tariffs! At the same time, the US has reached agreements with multiple countries to lower tariffs. All of these are beneficial to lowering prices and reducing inflation, conducive to interest rate cuts in 2026.

BTC
Yesterday, Bitcoin perfectly retraced to the rising trend line and then rebounded, closing above 106300. So overall, the market's pullback isn't significant, but the altcoins led by your repairs have plunged sharply. Overall, the position of 103000 cannot be broken; breaking it means the market is over. Looking at the day, if 106300 holds, there will be a small level of rebound, focusing on 107900, with support at 106300-105400 and resistance at 108000-108400.

ETH
Ethereum has already started a downward trend, currently at the weekly level has reached the corresponding support. Attention should be paid to market sentiment, focusing on whether 3685 can hold. If it cannot hold, we need to pay attention to another downward push, with support at 3555-3380 and resistance at 3685-3785.

$SOL SOL has made me miss the entire bull market, about to crash📉

This morning I cleared all 1000 Sol I had, please forgive me for being bullish on Sol previously, I regret holding Sol and missing the entire bull market😭

Although its ETF has been approved, not all products that pass the ETF can bring liquidity to their products

$SOL From the monthly chart, it has rebounded to the previous high around 240 but did not break through this resistance, which can be understood as an upward rebound, and also a distribution of chips. Why isn't Sol rising now? It is under monthly level pressure. From the current perspective, the weekly level is also in a high top state, if it goes back down to 96 again, I will play it again

#solana $SOL

Who can tell me if there is still a main upward trend this round? The spot in my hand hasn't moved much yet 😭

I want to hear everyone's thoughts 😂

#巨鲸动向 $BTC

This week focuses on three things:
1 Can the China-US trade agreement be signed?
2 When will the US government resume operations?
3 Will the ADP non-farm data affect the market?

China-US Trade
It can be signed, which is favorable for the market; if not signed, we will look at the follow-up negotiation arrangements.

Government Shutdown
It is the 34th day of the shutdown. Last week, Trump proposed to weaken parliamentary obstruction procedures, but some within the party opposed it. Over the weekend, Trump softened his stance, expressing a willingness to talk. The opportunity to resume operations is this week, and once it resumes, market sentiment will be favorable.

ADP Non-farm
With official data missing, ADP becomes a temporary barometer.
It will be announced on Wednesday. If employment is weak, it will be beneficial for interest rate cut expectations; if employment is stable, the market will have to wait.


#巨鲸动向 $BTC

11.3

November 7th
It is currently uncertain whether the new non-farm payroll data will be released this Friday;

BTC
We will find that the market's liquidity during this period is worse than on October 11th, and the current position is still within our expectations. We are still paying attention to whether the level of 106300 can be broken. If it continues to oscillate around here, it can lead to the continuation of the subsequent market trend because these two days are the monthly opening levels. If the monthly level starts to decline, there will be opportunities for the market after mid-month. So, in summary, the short-term oscillation has not yet ended, but at the same time, we can pay attention to the short-term support at 106300-104600 and resistance at 110000-111200.

ETH
Ethereum has returned to around 3710 according to our analysis. This is also the defensive position for this short-term market. Currently, the oscillation has not yet ended, and we should pay attention to whether the level of 3710 can hold. If it cannot hold, the next support will be around 3380. Support is at 3710-3380, resistance is at 3838-3900-4000.

sol
Solana has returned to the position of 176. Solana has indeed performed very poorly in this round. Looking back, Solana's weekly and monthly levels have not been strong, so the focus may gradually shift from Solana to the big two. Therefore, in the short term, we should pay attention to whether the level of 176 can hold. If it cannot hold, it may pull back and take people out.

$SOL $ETH #巨鲸动向

11.1

BTC
A new month has begun. Since 2013, the average return rate of Bitcoin in November has been +42.49%, with a median return rate of +8.81%. In the past 12 years, November has seen 8 up and 4 down. Furthermore, since 2016, the average return rate of Ethereum in November has been +7.08%, with a median return rate of +3.94%. In the past 9 years, November has seen 5 up and 4 down. The overall strategy for Bitcoin at this position remains unchanged; as long as it does not break 106500, there is an opportunity. If it breaks, the time period for this market adjustment will likely be extended. Currently, it is also fluctuating here, so as long as this position does not break, we should pay attention to short-term bottom opportunities. Since these two days are the weekend, it is likely to be dominated by fluctuations, with support at 106400-103000 and resistance at 111200-113400.

ETH
The situation for Ethereum at this position is the same. The position at 3710 has not been broken; it has been building a bottom here. The strategy remains unchanged; as long as this position does not break, it will build a bottom. We should also pay attention to short-term opportunities. I still maintain my view that on the weekly level, there should be one more pullback. After the pullback, it will likely end, so looking at the day, it will still fluctuate around 3710 to 4060, with support at 3710-3380 and resistance at 3980-4060.

SOL
Solana's fluctuation range is also between 176 and 190. If it breaks below 176 and rebounds, it’s a signal to exit. If it does not break, we can pay attention in batches.

$BTC #巨鲸动向

10.31

The market originally anticipated "interest rate cuts + liquidity injection", but the result was only "interest rate cuts + waiting period". Liquidity did not immediately flow back, instead causing the market to fall into a wait-and-see and uncertain state.
Although theoretically, interest rate cuts benefit asset prices, the market often requires clear liquidity injections to truly change direction.
Yesterday was obviously a signal from the Federal Reserve to slow down tightening, and they have not yet started injecting liquidity; on another level, the meeting between China and the US was merely a trade easing, and confidence has not been restored.
Therefore, I believe that we are currently in a liquidity vacuum period, and Crypto can only continue to bleed.

Since October 11, I have been advising everyone to watch more and act less, because I think we need to wait for a real opportunity. A true market rally often occurs when:
1. Liquidity officially flows back (QE restarts);
2. The US dollar index (DXY) starts to decline;
3. Global risk appetite increases (stocks and bonds rise together).

BTC
Bitcoin experienced another wave of downward pressure yesterday, causing a significant amount of market leverage to be liquidated. Bitcoin has once again reached the reversal level of this market wave. At 106500, if we follow our expectations to buy in, we are already in profit. After experiencing the crash on October 11, we see that this position is clearly undergoing a wide range of fluctuations. Currently, 106500 has tested the bottom four times without breaking, so we need to pay attention to the short-term opportunities in this wave. In summary, we need to keep an eye on whether this daily level will form a double bottom oscillation before making directional choices, because currently the weekly level is also near the trend line, but it is waiting for the auxiliary indicators to approach the zero axis. Since tomorrow is the month-end closing, in summary, the closer we get to 106500, we can pay attention in batches; if it breaks below this level, we can exit on the rebound. Support is at 106500-105000, and resistance is at 111200-113400.

ETH
Ethereum is the same; the 3700 level has not been broken four times, so we need to pay attention to short-term bottom opportunities. As long as 3700 does not break, it is an opportunity; if it breaks, we exit on the rebound. Support is at 3710-3560, and resistance is at 3910-4050.

SOL
Solana should pay attention to the range between 176 and 190, especially near 176 to watch for bottom opportunities.

#巨鲸动向 $BTC

10.30

In the early hours, the Federal Reserve lowered interest rates by 25 basis points as expected, and hinted at stopping the balance sheet reduction in December, but the market reacted mildly. The performance of US stocks was decent, while Bitcoin continued to decline. The interest rate cut in October had already been priced in, and investors' expectations for another rate cut in December were suppressed by Powell's remarks, especially since he clearly stated that he would not continue to cut rates unless the unemployment rate rose significantly. Although there are internal disagreements, the overall stance of the Federal Reserve remains cautious.
Returning to the $BTC data perspective, the price has dipped but the turnover rate has not increased, indicating that sentiment has not worsened, mainly due to short-term capital adjustments while long-term holders remain stable.

BTC
The market has now entered a low sentiment state, and at the current position, Bitcoin is in a small-scale wide fluctuation. At this position, we need to pay attention to whether the daily level can trigger a rebound from the zero axis. As long as it does not break 107500, it will fluctuate around here, while we also need to be aware of the weekly level staying above the trend. Currently, the market lacks a clear direction and a narrative that can bring liquidity growth, so if we want to operate in the current market, we should focus on short-term strategies. Pay attention to whether 111500 can hold; if it cannot, it will go down again. After that, there will be a small rebound, so we'll see the strength, with support at 109000-106500 and resistance at 111500-112300.

ETH
Ethereum is also experiencing wide fluctuations. The current thought process is the same; pay attention to the four-hour level of 3745, as long as it does not break this position, there is a chance to move up to the daily and weekly levels. However, in the short term, the daily and weekly levels still need to oscillate. In summary, Ethereum should still have another round of market movement coming up, but this round is likely the last wave. So if you are optimistic about the upcoming final wave, you can pay attention to buying in batches near 3745, with support at 3800-3750 and resistance at 3980-4060-4218.

SOL
Solana's thought process yesterday was also to focus on whether 190 can hold. If it can hold, it will move up a bit. Today's thought process is the same, pay attention to 190. I personally believe the daily level will quickly choose a direction. As long as Bitcoin does not have extreme market conditions, it will likely break upwards.

#加密市场回调

10.29

BTC
The big pie needs to focus on the interest rate decision at 2 AM tonight, which is expected to have significant fluctuations. Currently, there is a minor pullback in the market, and the daily trend hasn't changed, so we should pay attention to whether the level of 111300 can be broken through. If it doesn't break, there is still a chance to make a move up. In summary, there won't be much movement before the data is released, and the market will mainly be in a consolidation phase, with support at 111300-110000 and resistance at 113400-116000.

ETH
Ethereum is also experiencing a pullback at the hourly level, but the daily trend remains unchanged. Personally, I believe the daily level hasn't completed yet, so we need to pay attention to today's news. In summary, the market will mainly be in a consolidation phase during the day, with a focus on whether the range of 3920-3950 can hold up. If this range holds, there will still be a chance to make a move up, with support at 3920-3885 and resistance at 4060-4158.

SOL
Although the ETF has been approved, Solana hasn't seen much impact because, from the current perspective, there isn't much independent movement. It still needs to follow the macro environment. We should see if the level of 190 can hold up. If it can hold, it will experience wide fluctuations.

10.27

October 27
Hong Kong's first Solana trading fund "Huaxia Solana ETF" has been approved, expected to be listed on October 27.

October 30
The Federal Reserve will announce the new interest rate decision, and Powell will hold a press conference;

BTC
In recent days, Bitcoin has been mentioned for observing a four-hour level rebound. After a period of correction, it has indeed seen a four-hour level rebound. The focus now is on whether the current trend can maintain the level at 116000. If it can stabilize, it will challenge the range of 119500 to 123000 again. Currently, this wave of the market is still looking for a rebound, so in summary, it is still oscillating upwards during the day, as the daily level has not yet completed. Support at 113500-1112500, resistance at 116000-119400.

ETH
Ethereum mentioned the four-hour level rebound last week and is likely to break through the downward trend line of the current wave. Currently, as we expected, the market is at a turning point. For this wave to continue, it is essential to observe whether it can stabilize at 4225. This is also what we have consistently mentioned; as long as 3750 does not break, it will see a weekly level rebound. As long as it does not break through 4060 during the day, the outlook remains upward. Support at 4100-4060-3980, resistance at 4220-4370-4438.

SOL
The first ETF of Solana has been issued in Hong Kong. After the drop, Solana has been suggested for entry in the range of 176 to 190, and it has indeed rebounded as expected. Next, the focus should be on whether it can stabilize at 210. If it does, it will move around 220 to 235, while also paying attention to the area near 196.

$SOL #加密市场反弹

10.25

Last night, the U.S. September adjusted core CPI month-on-month was 0.2%, expected at 0.30%. Especially, the core CPI data not only fell short of expectations but also lower than the previous value, indicating that the current tariffs have a limited impact on inflation, increasing expectations for the Federal Reserve to cut interest rates, which is good news for the market. Therefore, after the CPI data was released, U.S. stock index futures rose, but then there was some pullback due to issues between Trump and China.

BTC
The idea given yesterday was a volatile upward trend, and now it has reached the 111000 position we mentioned. For this wave of market to continue, it needs to stabilize at this position, but currently, I personally believe there is a high probability it will stabilize. So, to summarize, if there is no significant change over the weekend, it will fluctuate around 109900 to 111000, or it may break through to touch around 113400, with support at 109900-108000 and resistance at 113400-116000.

ETH
Yesterday, the idea for Ethereum was that it was highly likely to break through. Currently, the market reached above this descending trend line yesterday but then retraced. However, the four-hour level has not completed yet and is about to face a directional choice. For the current position to continue, it needs to break through the blue line on the chart, which is around 4020. Summarizing for the day, if 3878 is not broken, it will fluctuate upward, with support at 3878-3800-3745 and resistance at 4060-4120.

SOL
Solana 190 not breaking, is highly likely to fluctuate upward. Pay attention to whether it can stabilize in the range of 201-203.

#加密市场反弹

10.24

Market sentiment has begun to stabilize, mainly due to two things. One is that the highest leaders of China and the United States will meet in Malaysia on October 30, and the outcome of the meeting will directly affect the tariffs on November 1. It is highly likely that they will TACO. The weekly report has also analyzed this. Although everyone is talking tough, high tariffs are not good for either China or the U.S., especially for the current Chinese side, which will face greater troubles. Trump's goal is to open up some rare earth resources.
The other thing is that Trump has pardoned CZ. We talked about this issue earlier today. For CZ, the biggest advantage may be that he can legally and compliantly re-enter Binance's operations.
BTC
Yesterday, the idea for everyone regarding Bitcoin was to pay attention to the one-hour level rebound. As we expected, there was a one-hour level rebound. Currently, the focus is whether Bitcoin will initiate a rebound at the four-hour level. Therefore, it is crucial to monitor whether the position at 111000 can hold effectively. If it holds effectively, it will initiate a four-hour level rebound. The resistance to watch is the daily moving average. In summary, if it does not break 109300 during the day, it will oscillate upwards, with support at 109300-108600-107500 and resistance at 111000-113400-116000.

ETH
Ethereum is currently forming a converging triangle at the four-hour level. In summary, as long as the position at 3745 does not break, it is highly likely to break through, as we are getting closer to a turning point in the market. Support is at 3750-3670-3588 and resistance is at 3895-3950-4060.

SOL
The chairman of the Solana Foundation mentioned during a speech in Shanghai yesterday that Solana has enabled people across the three layers of public chain networks, application platforms, and assets to make money. They will also continue to enter the Chinese market to leverage the power of the Chinese market. Solana's market performance has been very weak this year, but this chain remains very stable in ongoing ecological construction. It also needs an opportunity to drive changes in the market. A few days ago, we kept advising everyone to pay attention to entering in batches near 176, and it is now at 192. As long as the market does not deteriorate at the four-hour position, it is highly likely to have a four-hour level rebound like Bitcoin. Resistance is also at the daily moving average, with support at 188-180 and resistance at 197-201.

10.23

Tesla's third-quarter earnings report fell short of expectations, triggering tension in the US stock market. Additionally, Trump's consideration of restrictions on software exports to China has increased pessimism in the market. The biggest challenge may come after the CME opens in the morning and whether the Chinese government will take more aggressive countermeasures.
Currently, the US stock market and BTC remain in a highly correlated trend, which means that the decline in the stock market will affect the price movement of Bitcoin, even though BTC itself does not have any negative news.
In terms of style attributes, Bitcoin is closer to high β + momentum assets. This means that when High Beta, AI Winners, Non-Profitable Tech, Retail Favorites, and Most Short Basket decline, BTC will also face pressure.
BTC is one of the first assets to rise and the first to be liquidated during risk appetite cycles. This is the fundamental reason why BTC has been falling in sync with AI Winners and Non-Profitable Tech in recent days.
In simple terms, BTC is still highly correlated with tech stocks; if tech stocks face setbacks and decline, BTC is not immune.

BTC
Yesterday, I reminded everyone to pay attention to another downward pin, as the weekly line has not adjusted properly. The current situation is the same; fortunately, the support at 106300 is in place. The price action in the next few days will be particularly critical. If it continues to hover around 106300 without breaking below, we should watch to see if a divergence can form on the four-hour level to stop the decline. In the short term, we still need time to stabilize. Within the day, the focus will remain on stabilization, keeping an eye on the strength of the rebound in the one-hour timeframe. Support levels are 106300-104500-103000, and resistance levels are 109000-111000.

ETH
Ethereum's daily and weekly lines have already reached the support zone, making the next few days particularly important. The four-hour triple bottom at 3745 has not yet broken; if this level holds, it presents a short-term opportunity. Support levels are 3745-3675-3380, and resistance levels are 3899-4060.

SOL
For Solana, we mentioned that 176 has not yet broken; if it holds, it presents an opportunity. Resistance is at 186-193.

#加密市场回调

Currently, there are 36 types of cryptocurrencies with a total of 155 applications for spot ETFs. You can check if the Token in your hands has not been applied for.

Among these applicants, a large portion has very low net worth and presence, essentially, the project party is paying to have these institutions apply. The purpose of the applications is to tell the market that I am still working hard to build.

#加密市场回调

Can SOL rise again this round? Can it reach $300 each?

Institutional funds are the most important support force for SOL in this round. The open interest of Solana futures on the Chicago Mercantile Exchange (CME) reached a historical high of $2.16 billion at the beginning of October, while the total assets under management of Solana's exchange-traded products (ETP) also broke through $500 million. This indicates that large investors are actively positioning themselves, and their actions are usually more forward-looking.

Next, we need to pay close attention to several events regarding whether Solana can rise:
1. The market has expectations for the approval of Solana's spot ETF, which, if realized, will bring huge liquidity. However, there is uncertainty regarding the ETF approval results, and if not approved, it could dampen market sentiment. The U.S. Securities and Exchange Commission (SEC) decision on Solana's spot ETF approval is the biggest potential catalyst in the near term. The market has high expectations for this; if approved, it will attract a massive amount of traditional financial capital, replicating the excitement seen after the approval of Bitcoin and Ethereum ETFs.

2. Market breadth: A healthy bull market requires sector rotation. You need to observe whether the funds can effectively rotate into other DeFi, Meme coins, and other projects within its ecosystem after SOL breaks through, creating a comprehensive ecological prosperity, rather than just SOL shining alone.

3. Besides SOL itself, the health of its ecosystem is also crucial. Pay attention to fundamental indicators such as DeFi TVL and the number of active developers.

4. If SOL can continue to break through and stabilize above 215, it will greatly enhance market confidence, opening up space for a rise to the next resistance level of $237 - $253.

Reaching $300 for SOL in 2025 is a widely accepted target in the market. The path to achieving this may be divided into two steps: First, it needs to successfully break through the resistance zone around $250, and then, leveraging ecological development and potential ETF benefits, launch an attack towards $300.

#solana