Bitcoin's price continues to rise sharply and this time, the main reason comes from cash flow from large companies – they are using funds to buy BTC as part of their reserves.
Although the global economic context is unclear, Bitcoin still has room to rise further, possibly up to $142K according to my previous prediction. The reason is that the bond market is too volatile, causing many to view BTC as a hedge asset – similar to how gold performed very well in Q1.
The ETH/BTC pair has bounced back after hitting the bottom, but currently, there are no signs of a strong upward trend.
For altcoins, it cannot yet be said that the market has entered 'FOMO mode', but it is noteworthy that speculation is returning in areas such as meme stocks, SPACs, and PIPEs – and this could spill over into crypto in the near future.
However, many altcoins are about to unlock tokens, so selling pressure remains. Without a strong price catalyst, it will be very difficult to attract cash flow from retail investors.
Currently, leverage and borrowing rates in the market are still at stable levels, except in a few places like Hyperliquid with large whale activity. Nevertheless, open interest is at its highest level ever, showing that the market is very active as BTC reaches a new peak.
As long as there is no major economic shock, it is highly likely that the crypto market will continue to rise, led by BTC, although there may be a slight adjustment after reaching the peak. Suggested strategy for everyone.
Keep cash on hand to buy when prices adjust.
Start gradually shifting to quality altcoins with clear growth models and reasonable circulating market caps.
Consider positions that profit from large volatility (long gamma), as when cash flow from meme stocks flows into crypto, demand may increase unexpectedly.
