The BTC four-hour chart suddenly dropped, and the trading volume increased, clearly forming a short-term downtrend. There is a gap near $106100 (just look at the yellow circle), and yesterday's rebound did not fill this gap, so today mainly should short.
If you didn't short around 106000 this morning, wait for the opportunity near 105500, and just set the stop loss at the upper edge of the gap.
Since Ethereum dropped last Friday and rebounded, it has only been a technical rebound. The E/B exchange rate has hit the lower boundary again, which is very dangerous. I have partially started shorting ETH, so Xianxian plans to increase the short position on ETH over Saturday, Sunday, and Monday.
In terms of altcoins, although the market is not good, institutions have been increasing their positions: last night, Bitcoin spot ETF saw a net inflow of $86 million, and BlackRock alone bought $288 million, leading the market rally. Previously, BlackRock mentioned that it aims to be the world's largest crypto asset management company by 2030, and at this buying pace, it might achieve that soon.
DDC, Gumi, and Remixpoint are also buying Bitcoin. There has been significant buying of Ethereum and Solana recently, and there are continuous positive regulatory news.
The next wave of crypto main narratives is emerging: DeFi, stablecoins, PayFi, RWA, ETF, Meme, and public chains are clear narratives; supplemented by AI, DePIN, infrastructure, and platform coins.
Which altcoins can be positioned for short-term plays due to the impact of this wave of conflicts?
SUI
The current price is around $3. This coin has always been quite 'resilient'; in the past, it wasn't heavily affected by market fluctuations and often moved independently. It has dropped to around $3 with the market, which is a good buying opportunity. You can start by buying a little to build a base, and if the price falls below $3, consider buying more in batches.
WIF
The current price is around $0.81. I emphasized in previous articles: every time the market rises, the meme sector is usually the first to rise and often rises the most.
Everyone should be familiar with WIF; it had significant volatility during the airdrop. The current price is quite reasonable, and it might be good to buy a small amount as a hedge.
ETHFI
The current price is around 1. I reminded everyone on Weibo at the end of last month that Ethereum ecosystem coins can be traded in waves, and later all these coins rose crazily and topped the charts.
Why choose coins from the Ethereum ecosystem? The reason is very simple: for altcoins to take off, we need to first see if Ethereum is rising. As long as Ethereum moves, the coins in its ecosystem will surely explode; now is a good time to buy a bit and wait for the rise.
This cycle, altcoins are quite difficult to play with; don't be greedy when playing short-term!
After discussing altcoins, let's take a look at the on-chain situation and review the recent hot MEME.
USELESS
Starting from around May 20, it has been steadily rising, peaking at 80M near the 5M mark. Isn't that impressive? Unexpectedly, it's up over 15X. It even rose more sharply than labubu, which I didn’t see coming. I bought it when its market cap was around 8 million, and after it doubled, I took out my principal and sold the remaining profits in batches.
The logic of this coin is similar to neet and house, both suddenly rising from several million in market cap to tens of millions. Everyone should keep an eye on this type of conceptual coin!
RICO
This coin has been mentioned several times in relation to MUSK + politics + spiritual symbolism. After RICO's correction and consolidation, it feels like there will be another wave. Today, continue to watch to see if there are other golden dogs that can surge.
Lastly, a side note: today, Xianxian was flooded with this news on Twitter. To be honest, most people would be better off using a cold wallet than an exchange. Mainly because you don't have the asset level that needs protection. Ordinary people don't need to worry about asset loss because they don't have money to begin with. Let's try to expose ourselves less in real life while trading coins.
