The monthly chart of BTC shows a strong upward trend, having already broken the previous high, creating a new historical high, and is gradually moving upward. Even if it retraces later, as long as it does not touch the yellow line, it means the upward momentum continues at a secondary level. The daily chart is also performing well and moving upward; even with potential retracements, as long as it doesn't hit the yellow line, the upward trend continues at a secondary level. The smaller the level of the trend's continuation, the stronger the market sentiment! In the last two days, BlackRock purchased a total of 23,520 ETH, worth over $62 million. Although this is still less than the buys from the CETUS hacker last night, it at least indicates that funds are slowly flowing into ETH. The extent of the upcoming altcoin rally still depends on ETH; once Ethereum breaks new highs, altcoins will go completely crazy. I've only seen this kind of market pattern in 2017 and 2020, when the market situation was roughly similar to now, along with the concept of Bitcoin draining liquidity, which gradually faded away, basically following the fluctuations of Bitcoin. So now, seeing Bitcoin draining liquidity while all other coins remain stagnant doesn't feel too much; just wait and see. I have a persistent feeling that BNB is building up for something big; it's not that it won't explode, it's just not the right time yet, and for now, it's just following the larger trend.
Recently, even ETH, which has been criticized by many, has been pumped. As long as BTC stabilizes for a while without draining liquidity, the altcoin party will begin. How could there not be an altcoin season? The speculative nature is evident; behind every altcoin on Binance is a restless market maker!
Speaking of the RWA sector: I've been observing five tokens for a long time: PLUME, RSR, $SYRUP, $USUAL, and MKR.
The RWA sector has many tokens, making it hard to know each one. The leading ONDO is worth mentioning; its market cap is too large for conservative investors, but it will rise when the bull market comes.
I think SYRUP and USUAL have the highest odds, mainly because they are newly launched coins with relatively small market capitalizations and not much trapped positions. I mentioned yesterday that I bought USUAL, and it has already risen today. SYRUP is similar; currently, very few people dare to buy new coins on Binance, yet this presents the biggest opportunity.
There are several reasons to be optimistic about these coins:
1. They have been listed on large platforms like Binance, which provides ample liquidity, and these platforms have screened them, meaning they are at least not shell projects.
2. Their market cap is very low; before this wave of rising, several had market caps of less than $500 million.
3. They are still continuously 'doing things'. It’s simple to identify whether they are still active: check their official website, Twitter, and Telegram to see if they are continuously updating. Look at GitHub to see if they are still updating their code; no need to delve into how their code works or their product's market prospects because we are not large investors and don't need to be that professional, nor do we have the time and energy to understand such details.
Continuously doing things, having a small market cap, being listed on a large platform, and being a leading project in their sector—these few indicators are enough. The crypto market is one where even meme coins can be inflated to billions or trillions in market cap. These small-cap projects with application scenarios could catch the wind one day and soar high.
This does not mean that they will definitely succeed, but from the perspective of risk and return, it is indeed worth being part of an asset portfolio as 'speculation'.
How did I choose coins to buy the altcoins?
Currently, there are signs that memes are starting to retreat, and funds are shifting towards some old altcoins. However, from the rise rankings, have you noticed that those once well-known coins that got stuck have not risen? It looks lively with chaos, but in reality, it has nothing to do with our holdings.
So what is actually rising, and what directions should we look at in the future? Here are a few points:
1. Meme coins will still be the main line in the second half after this round of adjustments. After the adjustment, we can invest in some of the leading coins in this wave that have strong consensus;
2. New coins and newly listed coins have relatively less trapped positions and the chips are more concentrated, especially some VC coins that have suffered greatly from FUD. Later, the pumpers will leverage good liquidity to push the prices, of course, to sell for themselves;
3. Strongly backed coins, in other words, many coins you have never heard of or paid attention to, which have fewer comments in various articles. If these coins show relatively regular candlestick patterns, it’s clear they are artificially created. As long as these coins haven't risen yet, they can still be ambushed. The altcoin season you think about and the altcoin season the main forces think about are not the same thing; those once popular coins that got stuck will mostly not have anyone to rescue you. Switching might give you a better chance.