After touching 88,000, how much higher can it go?
Since this morning, $BTC has not only risen against the US stock market but $ETH, $SOL, and others haven't been so fortunate. Could it be that BTC indeed has strong safe-haven attributes, moving independently from the US stock market? Perhaps it's still too early to say.
The impact of tariffs is no longer significant; the focus now is on the economic effects of tariffs. The recent decline in the US dollar index is also due to this, especially with the Q1 GDP data to be announced on April 30.
If the data is good, the Federal Reserve will say that they will not lower interest rates for now and will continue to monitor the data, which is neither good nor bad. If the data is poor, it may favor a rate cut; however, there is a risk of recession, which would be negative. Thus, this is not good news for risk markets. Could BTC really perform exceptionally well then? Safe-haven rally?
Looking again at BTC's URPD data, as shown, there is indeed no major resistance above 87,700 until 93. 93 is the starting point for short-term holders from November to December, with various trapped positions above. Moreover, from 75,000 to 88,000, there has already been a significant increase.
So regardless of the impact of events or current sentiment, continued upward movement is limited. Once negative sentiment appears and funds become wary, it becomes difficult to predict the price.
#Bitcoin accounts for 63% now!
Historically, when Bitcoin's market share is high, there tends to be a wave of general market increases. Hopefully, this time won't be an exception. Coupled with the new SEC official taking office, there could be a market wave in the second quarter. If there is a pullback, it would be bold to enter. Looking back at the 2408-2410 phase last year, before the bull market returned, the market also experienced intense fluctuations, but the overall trend showed a gradually rising bottom structure. This pattern indicates that while short-term volatility is frequent, the medium-term trend remains bullish, and the current market shows similar signs, brewing a direction choice.
Altcoin Highlights:
1. OpenZK is preparing to go live, belonging to the Auntie's staking and staking sector. If it can go live before May 7, it can directly enter the market then.
2. The upgrade is just over two weeks away, still focusing on the upgrade-related: LDO, ARB, OP, PEPE, RPL, PENDLE, ENA, etc.
3. AAVE just happened to reach around 140 support entry point last night, and those who went short have already made 3 points.
4. JUP attempted to breach the 0.41 resistance but fell back. The short-term support is at 0.38; as long as it doesn't break 0.38, it will continue to push higher.
5. WCT is rising in a stepwise manner, currently at support around 0.415, making it a good entry point.
Selected altcoins with 10-50x potential:
$ONDO (Tokenized Asset Financing)
$SUI (L1 Infrastructure)
$ACH (Payments)
$RENDER (AI/GPU)
$W (DeFi Interoperability)
$POND (AI Infrastructure)
$VANRY (L1+AI)
$RVN (Decentralized P2P)
$ATH (Decentralized Cloud Rendering)
