The current market is basically a personal showcase of Bitcoin; altcoins are hardly rising, reminiscent of last year when Bitcoin broke 90,000 and challenged 100,000. Back then, it also rose by several hundred points daily for several weeks before finally reaching 100,000, while altcoins were either drained or remained stagnant.
The recent market situation has been quite similar, except for ETH which has been performing reasonably well, barely keeping up with Bitcoin. Most other altcoins are being drained; Ethereum's strength at this time should also be related to ETF capital inflow, which has seen net inflows for three consecutive days, with last night's inflow reaching 64 million dollars. Bitcoin's ETF only saw 330 million inflow, and based on a market cap ratio of 1:7, this inflow for Ethereum is not insignificant.
Then last night, the SEC also postponed the ruling on XRP and DOGE's ETF. Current market analysis suggests that approval may be possible by June or July at the earliest, with normal approval time potentially extending to the fourth quarter. It looks like there will still be a long time before ETFs become common. Considering that many of the newly applied altcoins are POS projects, they may be queued for approval after Ethereum's staking function. In summary, Ethereum has performed well recently, and the ETH/BTC exchange rate has been steadily climbing, which is an important indicator for altcoin bulls. Everything depends on whether Bitcoin breaks through 110,000; that may signal the arrival of an altcoin performance cycle.
On the altcoin front, OM has been revived after landing on Upbit. In April, OM experienced a flash crash, dropping from a high of 9.1 to 0.35. It is suspected that market makers and the team collectively sold off due to uneven profit distribution from the issuance strategy. The team has since attempted various burn strategies to recover the market, but to no effect. However, today it did show good gains on Upbit, and the recent Genius Act has also been very favorable for the RWA sector. As a former leader, OM might see another wave of market movement, so it can be watched closely.
On May 22, Trump's dinner is about to start, and Trump and the team behind the meme are likely to stir things up. If the altcoin bull market successfully arrives, RWA, AI, meme, DeFi, and ETF altcoins will remain the strongest sectors. Therefore, what we need to do is ensure we find good positions and layout our holdings in advance before the bull market arrives.
The bull market is about to arrive! Four altcoins that will explode first with 20-50 times returns!
BNB
From the current candlestick chart, it is evident that near the 670 level, there has been strong selling pressure causing a rapid pullback, leaving a long upper shadow. Clearly, the previous rapid surge may not have been entirely a positive signal; the decline during the day seems also within reason. At this moment, the support area around 650 - 648 is crucial. If this area can provide effective support, bullish forces are likely to gather strength and push again towards the previous high of 693.
SXT
It is a zero-knowledge proof data blockchain supported by Microsoft, and it is the native token of 'space and time'! So why has it risen so much? That's because Bitcoin broke new highs and has been consolidating at high levels without signs of decline, and most altcoins will continue to follow the rise. Currently, this coin is not recommended to chase high; when Bitcoin retraces, altcoins will only follow with even greater declines!
DOGE
The peak of DOGE has become unpredictable; after the high point last December until early May, it has been in a long-term decline for six months, with a full exchange of chips.
Since mid-March until now, the trading volume has remained at extremely low levels. Although it rose from a low of 0.13 to 0.26 in May, doubling in percentage, the trading volume has not significantly expanded. From a trading volume perspective, the market is still in a very early stage. This time, DOGE's performance is different from past bull markets, accumulating very strong energy, and the peak is unpredictable!
people
Looking at the monthly candlestick chart, the price has now reached the vicinity of the last wave high before the previous bull market ended. This level has been tested twice without breaking through. However, if it breaks and holds above 0.03, then there shouldn't be significant selling pressure above in the short term. I think the possibility of another surge for people is very high, but don't expect it to rise tenfold like the first explosion; overall, a 3-5 times increase seems more reasonable.
