Bitcoin successfully broke above $71,000. The U.S. spot Bitcoin ETF received an inflow of $479 million yesterday, the first time in two weeks. The global cryptocurrency market value exceeded $2.5 trillion. It seems that everything is coming back.
With BTC dominance about to break out of the channel, some may think this is a bad thing, but it is actually a good thing for altcoins.
Judging from historical trends, larger-scale altcoin rallies are always led by the initial outstanding performance of BTC, which allows for healthy and sustainable operations.
A new round of market cycle is slowly brewing.
BTC is just around the corner from breaking through its previous high. As the saying goes, the one who knows how to sell is the master, so it is very important to set a target position for yourself.
There are many ways to determine the top target. The simplest one is whether to use a semi-log or linear scale. The target at $94,000 is measured from the breakout level to the semi-log triangle move.
A swing target can also be determined by projecting the August 2024 low upwards to the November 2022 low to the March 2024 high as shown on a logarithmic scale, now I think this is a bit far-fetched, my rule is to only target one at a time.
Of course, all of these targets can be biased when driven by market sentiment, so I always keep risk management in mind when trading.
Pay more attention to market sentiment, buy when there is disagreement and sell when there is consensus.
ETH: Although this rebound failed to reverse and lead the rise, it was not as weak as the previous one, and the increase was on par with Bitcoin.
I am not afraid of being FUDed, I am afraid that no one is FUDing me. All FUD can be seen as a means for the main force to collect low-priced chips. Patience is more important than anything else.
SUI: After the excellent performance in the early stage, we need to go through an adjustment period.
Aside from SOL, this will be one of the best performing L1s this cycle.
From the current trend, after two weeks of adjustment, there is a rebound. Those who are optimistic can buy on dips.
Buy when no one is interested, you will make money anyway, and the money you can hold on to is within your own knowledge.
It is a pity that there is no AI project on SUI yet. I hope to have some hard technology to directly activate the SUI ecosystem.
APT: The Aptos Foundation recently announced that USDT has been officially launched on the Aptos mainnet.
Looking back at Aptos’ performance over the past two years, it seems that it is still very good, and the performance of hundreds of millions of transactions in a day is particularly outstanding.
I got involved in the ecology at the very beginning. Don’t mention how poor it was then. Now looking back, it has become very mature.
The Aptos chain has 7 million monthly active users and about 5 million daily transactions.
The launch of USDT on Aptos is a big step towards TVL growth and on-chain DeFi development.
The average transaction fee on Aptos is currently around $0.0002.
By comparison, on Ethereum it is now around $4.5, while on L2 it is closer to $0.01.
Although this transaction fee is infinitely close to what people call the end, there are still many details at the bottom of the project that need to be polished and improved, and this long journey may have just begun.
The current price of APT is around $10, which is pretty decent. Its competitor SUI is already running, and I hope it can keep up with the trend and shine.
Every bull run begins with doubt, reaches euphoria at its peak, and ends with regret.
You need to believe immediately without proof and sell while the excitement is building when the super cycle becomes a reality.
Now is not the time to hesitate, now is the time to be absolutely sure and bet with the utmost conviction.
