I see the whole square is predicting the highs, so I will too.

This rise is mainly due to Powell's dovish remarks, the Sino-US negotiations, the UK-US consultations, China's reserve requirement ratio cuts and interest rate reductions, and institutional buying.

Among these events, the only factors that can truly provide money to the market are China's reserve requirement ratio cuts and interest rate reductions, and institutional buying. Of course, the money won't flow into the market that quickly, nor will there be that much flowing in. It has to go from the central bank to commercial banks, then to local banks, then to individuals, and finally to the market.

In other words, the market's liquidity hasn't really improved; it's just that the market sentiment has gradually shifted from the panic of the trade war to a bullish sentiment.

Now, let's talk about institutional buying. Institutions still have that much money, and the Federal Reserve hasn't started to ease yet, and Bitcoin can be pushed to 104,000.

To be honest, from this perspective, if the Federal Reserve eases, and the market has incremental funds providing liquidity, I can't imagine how high it could go.

I conservatively estimate that Bitcoin should return to 130,000, and 130,000 for Bitcoin should be stable.

I won't dare to estimate higher; as for Ethereum, it has just stood above the trend line. I'm quite optimistic about Ethereum, but since the transition from PoW to PoS, Ethereum has essentially no cost, or the cost is very low, so I don't dare to blindly overestimate Ethereum as it could harm people. However, with market sentiment and incremental funds supporting it, I judge it will reach around 4,000.

I can't assert that Ethereum can reach 5,000 or even 8,000; that would only harm people.

As for altcoins, I really can't think of any reasons for their rise.

Firstly: all policies, including reserves and whatnot, are directed at Bitcoin, and Ethereum hardly benefits.

Secondly: 99% of the altcoins on the market are completely useless. Those AI, RWA, metaverse, etc., are all just trying to latch onto trends without any real utility. Institutions won't pick them up, but they will surely rise; however, in an increasingly regulated market, they will certainly be eliminated.

Personally, I am quite optimistic about the DeFi sector, as cryptocurrencies are gradually becoming more regulated, and more people are allocating crypto assets. DeFi is a very good asset allocation direction.

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