The cryptocurrency market is currently in a rather awkward moment, as recent funds have gone to the US stock market, and $BTC is fluctuating in a tight range around 1%-2% at a high level, with the market being very firm.

However, looking at the weekly chart gives a feeling that a crash could happen at any moment, and the altcoins are even worse, with new coins continuously emerging, almost peaking right at their launch, while older coins often have a few lucky players that cause significant drops in their K-lines, making the future hard to see.

The liquidation chart for $BTC has recently seen a surge in short positions, with a potential drop to 97,000 able to trigger over 1.7 billion in short positions, and a rise to 112,000 able to trigger 2 billion in short positions, indicating that there is still quite a bit of bearish capital.

Currently, I am also bearish; although I have been trading in waves, I still hold short positions, and the previous posts have clearly stated the wave points.

Additionally, with Trump's tariff extension deadline set to August 1, I have a feeling that a new major direction will emerge in 2 to 4 weeks, and it is time to buy and hold.

Moreover, the hottest recent topic should be @pumpdotfun launching a token, with the fundraising method being a public offering on major exchanges on July 12.

The total token supply is 1 trillion, with a valuation of 4 billion dollars. The total amount for the public offering is 150 billion, with a public offering price of $0.004, which means a fundraising amount of 600 million dollars. So far, this is still the first project in the cryptocurrency space that has such a high fundraising amount through a Launchpad, especially at a time when liquidity in the crypto market is so poor. Looking back at the past actions of the pump team, I am just waiting for an opportunity to short after it goes live.