1. Market Trends
The Bitcoin (BTC) market situation is severe, with prices continuing to drop sharply. According to relevant data, Bitcoin ETFs saw an outflow of funds reaching $1 billion the previous day. In sharp contrast, the altcoin market generally rose and did not follow Bitcoin's decline. The current market focus is on coins controlled by strong hands.
The U.S. stock market shows a volatile trend. Notably, the U.S. has announced a 25% tariff on the EU, which may have some impact on future market directions.
2. Market Hotspots
Strongly Controlled Coins Perform Outstandingly: Recently, strongly controlled coins PI, IP, and KAITO have seen astonishing gains. Among them, PI's market cap has skyrocketed to $300 billion, surpassing Ethereum (ETH) and ranking second in market cap, clearly showing high control. Meanwhile, IP and KAITO have experienced continuous short-squeeze trends due to the limited supply of airdrop tokens. However, the once top-performing strong coin OM has shown signs of a monthly peak, and its future trends are worth close attention.
BSC Chain BNX Fluctuation: The price of BNX coin based on the BSC chain has surged significantly. It is reported that BNX will be renamed to FORM and plans to transform into a meme launch platform, showing strong backing from major players based on its market performance.
AI Concept Cryptocurrency Rebound: The AI-related ALCH coin has experienced a skyrocketing surge, while coins like ARC, PIPPIN, and COOKIE have also rebounded. Notably, COOKIE has successfully launched on Coinbase, adding new momentum to its development.
Public Chain Market Hit and Security Issues: The Bitcoin exchange rate for public chains like Ethereum (ETH) and Solana (SOL) has broken down on the monthly chart, following Bitcoin's sharp decline. Additionally, the theft incident involving the well-known cryptocurrency exchange Bybit has drawn widespread attention, found to be caused by issues with the Safe multi-signature wallet on the ETH chain. This incident has particularly impacted institutional funding. It is understood that Vitalik Buterin, the founder of Ethereum, has 90% of his assets, approximately 240,000 ETH, stored in the Safe multi-signature wallet, second only to the 310,000 ETH held by Bybit, which undoubtedly intensifies market concerns over asset security.
February 27 Bitcoin and Ethereum Market Analysis: BTC, ETH Today's Highlights
Market Review
Yesterday, BTC continued to decline with increased volume, exceeding expectations. No significant bearish news was observed. A divergence has been seen in the 4-hour chart, while the daily level divergence pattern remains. The market is sluggish, with the fear index reaching 10; a rebound is not far off. A sharp rebound is expected today, consider following up to accumulate, and maintain confidence as the larger cycle is still in play.
Altcoins are dropping in sync with BTC, breaking support levels. A divergence has been seen in the 4-hour and daily charts; consider following up to accumulate.
Altcoins follow the mainstream decline, with signs of a bottom being seen. Consider gradually accumulating; new platforms on the chain to watch include Odin on the BTC chain and TIME on the SOL chain. New platforms present new opportunities; you can join community groups for discussions. For accumulated coins, be patient and wait for market conditions to improve.
Today's Highlights:
BTC: The 1-hour and 4-hour levels have entered the oversold range, and the daily level has also entered the oversold range. A sharp rebound is expected today, with the larger cycle still in play. Support is between 83500-84000, and resistance is between 87000-88000.
ETH: The 1-hour and 4-hour levels have entered the overbought range, while the daily level is below healthy levels. A sharp rebound is expected today, with support between 2250-2300 and resistance between 2450-2500.