Brothers, pay attention! Tonight, the crypto market might stage an epic rollercoaster ride, as two bombshell news items have got the dealers rubbing their hands in excitement.
Let's start with the first explosive news — stablecoin giant Circle is ringing the bell for its IPO tonight! This company has crazily moved $1.1 billion, valuing it at a staggering $7 billion! Does it remind you of the grand scene when Coinbase went public in 2021? At that time, Bitcoin had just touched $65,000, and the IPO became the market's terminator. Is history about to repeat itself? Anyway, the vulture investors eager for new stocks are ready with their harvesters, just waiting to chew on the crypto funds like sugarcane!
Given this momentum, the market might stage a 'listing is the peak' drama. Remember three years ago when Coinbase went public, the price of Bitcoin plummeted like a punctured balloon? Now Circle is knocking with a valuation of $7 billion, and those funds eager for new issues might be about to draw blood from the crypto space.
On-chain data has already revealed the truth — large holders have been frantically hoarding in the past ten days, with their holding ratio skyrocketing from 5.7% to 10.6%. This growth rate is faster than a flash! At this pace, breaking 15% in two weeks is not a dream. Remember, the last time holdings reached 15.5%, Bitcoin performed a spectacular leap, but when it surged to 16.9% in February, it instantly gave you a waterfall washout. Given the current situation, the dealer is either hiding fireworks or explosives in their pants!
The second bombshell comes from PumpFun, a liquidity extractor in the Solana ecosystem. These dogs are playing hard — a project valued at $5 billion insists on pre-selling $1 billion in tokens. Isn’t this just blatantly asking the retail investors to sell their Bitcoins to buy in? Remember when Trump coin went public in January, the entire market was drained to a state resembling a dried corpse. Now with double devils knocking, this blood extraction speed might be fiercer than the Federal Reserve's printing press. I advise all of you to hold your horses and not rush forward like a husky seeing a bone when you see a pre-sale.
Now over there in Beautiful America, it's also chaotic. The Federal Reserve's Waller is constantly talking nonsense: 'Interest rate cuts? We'll talk about it when inflation kneels down and calls me daddy!' This guy acts like a scumbag trying to cheat for a betrothal gift; last year he said there would be a rate cut in June, only to change it to July and then push it to September. The derivatives market is even more absurd, directly betting on a 100 basis point rate cut next year. Is this the rhythm of thinking the American economy is about to collapse?
At 3 AM last night, Trump baby tweeted again, saying he would restart the tariff war with China. Goodness, is this guy addicted to flipping tables? The U.S. CDS default insurance has soared to 52 basis points, even looser than a pimp's belt! No wonder the SEC suddenly announced that PoS staking is not considered a security; it's clearly a license for the casino from the authorities. From now on, node operators can proudly say: 'This is serious investment!'
Recently, New York has also staged a dramatic power struggle — the mayor wants to issue Bitcoin bonds for infrastructure, only to be slapped in the face by the auditor: 'Using Bitcoin to build schools? If the building collapses, is it an earthquake or a liquidation?' This operation is comparable to using adult toys to build a cross-sea bridge; it's exciting but also life-threatening!
However, there are also stubborn players: the Japanese company Metaplanet has recently spent $117 million to buy 1,088 Bitcoins. These Japanese are even more addicted to gambling than AV actors, and their holdings are rushing towards 8,888 coins. The President of El Salvador is even funnier, bragging on Twitter that he picked up 8 more Bitcoins this week, bringing the national holdings to 6,194 coins — enough for every citizen to have 0.0001 coins as a family heirloom!
MicroStrategy, the Bitcoin harvester, has swallowed another 700 Bitcoins, BlackRock is treating ETFs like safes, cramming in 660,000 coins, Fidelity has hoarded 190,000 coins, and Grayscale is selling while cursing. These institutions are treating Bitcoin like gold bars!
Ethereum has recently perked up; Vitalik has declared plans to expand its capacity tenfold in a year. Goodness, this promise is rounder than pancakes from a street vendor! However, the market is truly buying into it, with a net inflow of $320 million into ETH funds last week. Brothers, do you think Vitalik is serious this time or just teasing?
June's market is like a blind box: in June 2016, Bitcoin skyrocketed by 27%, which felt better than cat mint; in June 2022, however, it plummeted by 37%, worse than eating overnight durian. Now the technical indicators look as empty as an old pimp — RSI is weak, MACD is dysfunctional. But Bloomberg says altcoins might soar due to the tariff agreement. In my opinion, the current situation is: either a crash leaves golden opportunities for you to pick up, or a surge before the night of slaughtering the foolish high buyers.
Remember, the casino never sleeps; living long is the real victory! The bell for Circle's IPO has already rung in the distance. Are you ready to welcome this feast (or funeral)?