After the CPI data was released yesterday, the market's expectations for interest rate cuts in 2025 changed from once to twice. Of course, the market is adjusting continuously. However, as I mentioned before, since the first interest rate hike in 2022, whenever the market and the Federal Reserve have differing views, the Federal Reserve always wins.
Recent secondary market catalysts summary, the secondary market is gradually returning.
$MORPHO: Morpho Labs is restructuring its governance framework, and in the future, all value generated by the protocol will only accumulate to the single asset $MORPHO, and will no longer flow to off-chain equity.
$GMX: GMX launched the 'GMX Express' execution layer, which can bypass RPC congestion and supports gas payments in stablecoins.
$HYPE: HyperLend launched new features allowing users to borrow against HyperCore assets (such as $HYPE), adding practical scenarios for HyperCore assets, while the wallet and Mini-Apps of farcaster have natively supported HyperEVM.
$SKY: Sky Ecosystem (formerly MakerDAO) has enabled USDS rewards for $SKY staking, with reward amounts dynamically adjusted based on protocol performance.
$ENA: Ethena's high-yield savings feature has been launched on the TON wallet.
$UNI: Uniswap Foundation launched the v4 Hook Design Lab pilot grant program, providing funding and technical support to teams building the next generation of DeFi protocols using Hooks
$VIRTUAL: Virtuals Protocol is expanding to the Ethereum mainnet.
Bitcoin (BTC)
The CPI data released last night was favorable without dead angles, but the big coin did not break through the key resistance level of 110700. If it cannot break the key resistance with favorable news, that is bearish. The big coin needs to break through 108729, with a solid closing above this height for hot chasing. Set stop-loss if it breaks.
The big coin can only look up to 109192-109818 if it breaks through 108835 on the hourly level. Those wanting to short the big coin at high positions should note if 109818 shows a false break, short one. If it breaks and stabilizes at 110398, set a stop-loss. For conservative players, long at 104534, with a stop-loss if it breaks 103792. Upper pressure at 108796-109196-109720, lower support at 107998-106800-105243. If it breaks 108297 on the 4-hour level, look down to 106778-105866; as long as 106778 does not break, the bulls still have hope.
The big coin's hourly level is testing the top with three needles; it's coming with a big bearish line. Double needles probing the top are not enough; it must come with three needles. Moreover, the big coin is currently crazily testing the neckline indicated by the yellow arrow. Once the hourly closing price is below this neckline, the expected pullback will come. Those chasing highs should pay attention to the risks.
Ethereum (ETH)
The second coin has broken through 2772 with volume; chase the rebound and set stop-loss. If it breaks 2754 with volume, chase the shorts and set a stop-loss. Retest 2678 to confirm effective support for an additional long position, with a stop-loss below 2648. The second coin must stabilize above 2787 on the hourly level to continue looking up at 2806-2836. If it breaks above, pay attention to these two levels. Watch for a short entry at 2787, with a stop-loss if it breaks 2806. Left-side orders: long at 2595, with a stop-loss if it breaks 2556.
Upper pressure at 2787-2806-2834, lower support at 2743-2729-2686. If it breaks below 2732 on the 4-hour level, it will need to retest 2689-2647. As long as it does not break below 2647 on the 4-hour level, there is still a chance for the second coin to rise. I feel that this wave of increase in the second coin seems to be a trap for those chasing highs; the rise may be a bait, so caution is advised when chasing highs.
Altcoins
Despite BTC and ETH continuing to break through, market sentiment is high, but the performance of altcoins is severely differentiated. Many investors are concentrated in altcoins (like ENA, PEPE, SUI, AIXBT; I made a big profit), but most have not reached their previous highs, and many have suffered greater declines during the recent pullback. Market fluctuations may lead to expanded losses, so it is advised to review holdings, assess project fundamentals, and take profits or cut losses in a timely manner to avoid blind trading.
The bull market is not over, and altcoins have not caught up!
KMNO
This wave has blown me away! A fan just joined and reaped big profits. Entered at 0.063 as called in the morning, with a profit target set at 0.0672. It surged all the way, peaking at 0.07288, and within just a few hours, leveraged profits soared to +368%.
On-chain
Keetard
Striving to get in at the right price, I bought some when the market cap was 1.6 million, hoping to add more on dips. It should yield good returns. The team is very reliable, LANLAN team, which has previously issued 30 million.
CHAT
CHAT is back! After the launch and market washout, the market cap hovered around 200-300 thousand, and many large holders were shaken out. After discussions in the group last week, they built positions, betting on the old horse's return, targeting low market cap, high odds, and incomplete narratives. However, CHAT's expectations are far from $GORK, and it's not the same level product; it’s better to take profits.
MATT
Although $ETH broke through 2800 yesterday, the on-chain trend is indeed reversed. There haven't been any major hot coins in the past few days, and many old coins are declining, especially the MATT series!
I don't know if it's because Matt_Furie has caused a decline in reputation after deleting tweets, but $SNIBBU has dropped back to 2 million, and the $GASS cat has corrected to below 10 million. The $ZEUS dog, after openly changing its scheme, has also declined, with cc8's Zeus dog taking the lead.
Other frogs, skulls, mice, and mother PEPEs are not worth mentioning, as they are almost dead. Only those who can survive this round have hopes of competing for the new big brother. Currently, it seems that only the ZEUS dog and GASS cat have this hope.