Bitcoin's current low points are gradually rising. As it stands, the support around 94,000 is unstable, paying attention to the previous low near 92,000. If it pulls back to this level and stabilizes with a rebound, it will be a good opportunity to re-establish long positions.
In recent days, ETF has continued to increase in volume. BTC ETF saw a net inflow of about $380 million yesterday, marking a week of continuous gains. If institutions had advance knowledge of the rate cut news, it would mean violent control over the market; even if there is a rate cut, this sudden surge deviates from the normal slow bull rhythm.
The current market atmosphere is very similar to October and November of last year, where mainstream altcoins and MEME rise the more fearful they become.
Short-term strategy: If there is another spike, prioritize risk considerations. The situation remains stable before any spike; watch for downward opportunities from Sunday to Monday. In the altcoin sector, old coins, mainstream coins, and old Memes continue to strengthen, while new coins mostly stagnate. Today, WLD and Virtual are leading the AI sector, and Meme continues to advance, with People, Pnut, and Usual remaining held, focusing on signs of Act's initiation.
In addition, Alpaca is about to be delisted, and it is crazily harvesting shorts. The more shorts there are in the short term, the more likely it will explode.
This year marks the tenth anniversary of Ethereum, but it has also reached a crossroads in its fate.
Since the beginning of the year, Ethereum has been declining from its peak, showing a weak structure. It wasn't until early April when the weekly volume showed signs of bottoming out. Although the daily line has seen a rise and a preliminary break of the downward trend line, the volume is insufficient, and market sentiment remains cautious; the effectiveness of the breakout still needs confirmation.
Notably, with Ethereum's upgrade approaching on May 7, and staking ETFs likely to pass at any moment, related staking projects like Openzk's token OZK have gone live, and market enthusiasm is expected to continue to rise. Additionally, there are potential positive news reports from late April to early May that are worth closely monitoring.
While Xiao Miao pays attention to ETH, it will also monitor the dynamic trend of PEPE. From a broader perspective, the $PEPE double bottom pattern has basically been established and could break out at any time. Currently, it has been consolidating for over four months, and this wave may be brewing an opportunity. In the short term, pay attention to the key pressure range above 0.0000149 to 0.0000218. If it can break effectively, it may aim directly at 0.0000394.
Recently, the AI + Meme sector has been leading the altcoin market. Although the increase is not as high as last year's peak, signs of overall warming have appeared, which is a good thing.
In terms of on-chain traffic, Solana is making a strong comeback: the largest meme launch platform Pump transferred 110,000 SOL to Kraken yesterday, double that of the same period last month, showing a clear warming in on-chain heat. In contrast, BSC has a scarcity of primary market targets, and the market is bleak, lacking a wealth creation effect.
When talking about on-chain heat, we cannot avoid the MEV (Maximum Extractable Value) issue. The decline of BNB Chain stems from the MEV dividends being monopolized by a few, leaving retail investors and CZ with no profit; calls for trades are powerless; reform attempts like PBS and Goodwill Alliance have had little effect.
Solana relies on hard-core MEV prevention strategies, fair profit-sharing, and new gameplay to ignite its ecological popularity.
In the future, if BNB wants to turn things around, it can learn from Solana's Jito model or accelerate the implementation of TEE.
Of course, Solana also needs to be alert to sandwich attacks and transparency issues; otherwise, a crash could happen at any time.
In summary: On-chain governance is key to building a strong foundation!
Today's recommended altcoin potential assets to watch:
CRV
From the chart, the daily level has broken the triangular trend.
In the gray area, it is consolidating, pay attention to the resistance around 0.78.
The next target is to test the small resistance at 0.78. If it breaks successfully, continue to monitor the positions at 1.05 and 1.3.
SIREN
I just took a wave!
The daily trend is quite stable, and there are no signs of a peak in the current trend.
Currently, market funds continue to flow back into the AI sector, and SIREN is likely to see a nice increase.
If you haven't boarded yet, don't worry; you can wait for a pullback!
TRUMP
In January, I missed $TRUMP. In February, I brushed past $TST. In March, I watched $MUBARAK soar. In April, I helplessly saw $RFC take off... In the blink of an eye, it's May. Do you still plan to remain empty-handed? The holding ranking calculation time for Trump’s dinner is from April 23 to May 12, with the dinner officially starting on May 22.
At this rate, $TRUMP is at least relatively safe before May 10, as large holders are unlikely to easily dump their positions to secure a spot at the dinner.
However, after the snapshot on the 12th, market sentiment is uncertain.
This wave, whether $TRUMP can reach around 20U, depends on the final push!
That's all for the article!
