Bitcoin refreshed its historical high again yesterday, reaching a maximum of $116,868, officially entering a bull-dominated phase. Typical bull market characteristics are evident—sideways movement replacing corrections, slow upward pressure, and short-sellers continuously fearing heights, chasing prices yet fearing being trapped. This wave of market also brought a new round of 'bloodbath':
In the past 24 hours, a total of 232,286 people were liquidated worldwide.
The total amount of liquidations reached $1.126 billion, setting a new record for the bull market.
The largest single liquidation occurred on the HTX platform for the BTC-USDT trading pair, amounting to $88.5465 million.
This is also the largest short liquidation event since this bull market began, completely igniting bullish sentiment. Those who have not boarded continue to be left behind, while those on board just need to hold steady and not get shaken out.
Bitcoin
BTC has broken its historical high for two consecutive days, leading to selling pressure exceeding demand. Unless there is a significant drop, there will be no cost-performance ratio. Of course, BTC has not yet peaked, and it is expected to break new highs at least in the short term, with the next target possibly being $120,000.
Currently, Bitcoin is continuously increasing in volume on the daily chart and has broken through an important trendline resistance, meaning there is no longer any pressure above. However, from a smaller timeframe perspective, a pullback may occur. Therefore, I plan to lightly attempt a short near the current price of $116,500, aiming to capture a pullback space of $1,000-2,000, and then based on the strength of the pullback, I will choose the right time to go long and participate in the next breakout.
The overall trend remains strong; this wave of upward movement may just be a mid-stage effort. In terms of operations, it is recommended to remain flexible, entering and exiting quickly, with heavy long positions waiting for better low-buy opportunities.
Ethereum
ETH has finally become strong this time, accelerating upward in the short term, and its cost-performance ratio is slightly higher than BTC, still the first choice for large holders. The current price has already broken through the highs of the past few months, indicating that the trend has begun to reverse, and it has become very difficult to drop down now.
Because of ETH's rise and touching 3k, the distance to a new high is getting closer. This wave of upward movement has brought confidence again, so ETH is no longer the weak chicken from before. Moreover, ETH's rise will drive altcoins to explode, and then the secondary market will bring back the effect of making money, which will lead to a complete market explosion.
The overall market has begun to rotate and explode, and the potential of ETH has started to show. The question remains: if you are a large holder, would you choose BTC or ETH? I fear most people would choose ETH or SOL, indicating that the market is completely improving.
From a small timeframe perspective, ETH's second high point has formed, and it may pull back a bit. Therefore, my current strategy is to short first and then go long. I want to profit from both sides. I plan to short near the current price of $2,965, and then when it reaches the expected target position, I will directly close the short and go long. If the situation is not right, I will retreat at any time!
Altcoin
Bitcoin has strongly refreshed its historical high, and Ethereum has also broken the $3,000 mark. Under the continuous leadership of mainstream assets, altcoins are ready to take off. It can be expected that July will become an important time point for the collective breakthrough of altcoins, and a new round of 'altcoin season' has quietly begun.
This will be the third round of systematic altcoin rotation in this bull market, with the altcoin sector index expected to refresh its historical highs. From July to August will be the golden window period for altcoin traders, the busiest and most reckless time for pump actions. Against the backdrop of mainstream coins stabilizing at high levels and continuous capital overflow, various second and third-tier coins may welcome explosive opportunities.
pengu:
I recommended pengu yesterday, and it surged by 20%! In the upcoming trend, it will encounter two strong resistances. Once it breaks above, it will have new upward potential. Those who missed out should strategize; just buy on the pullback. Therefore, over 80% of what I tell you is good stuff. Take a look back at what I said about SEI a few days ago.
SUI: As a new public chain with strong technical capabilities and solid resource background, it is gradually building a complete ecological closed loop. In comparison, its ecological performance is significantly stronger than the recent weakness of the Solana sector. As capital preferences gradually shift, the SUI ecosystem is worth continuous tracking. For example, HAEDAL, currently with a market cap of only $36 million, has a smooth trend and complete structure, possessing sufficient imaginative space, and is a truly 'small yet beautiful' quality target.
LPT: The leader in AI + video, currently has a low market cap but a solid foundation, absolutely a potential coin! Fully circulated, the U.S. leads the bull market, with $LPT Grayscale holdings showing signs of accumulation at the bottom. The current layout is basically at the position of bending down to pick up money, having bought some at a price above $6.9, expecting to make a double profit is not a problem.
WCT: The current price of WCT is $0.345, and it is forming a standard arc bottom structure, making it one of the potential coins worth paying attention to. The short-term target looks towards $0.65, the medium-term target is $0.84, and in the long term, it is expected to challenge the $1 mark. At this stage, adding positions on dips is a relatively optimal strategy, suitable for light positions to test and heavy positions to attack in batches, belonging to the early right-side layout window of trend reversal.
ENS: An Ethereum ecosystem coin, it must follow ETH; breaking resistance on the daily chart shows a bullish pattern, RSI is not overbought, and standing firm at 22.80 has the potential to reach 26.30 or even $30-40.
