The price of #趋势交易策略 reaching a new high is just a façade; the real transfer of wealth has already begun, but most people cannot comprehend it.

—— Today, I focused on on-chain data, ETF flows, and domestic policy trends, and I reached a bold conclusion: the bull market does not wait for anyone, but it will change participants.

📈【1. BTC surpasses 118K: This is not a surge, but a triple resonance】

Today BTC reached a high of $118,668, and the market is in a frenzy, even calling out, 'Prepare to hit 120K.'

But I want to say one thing: stop looking at candlestick charts to guess the peak; that is the fate of retail investors.

What I see are three core driving forces:

1. ETF giant capital entering the market: Yesterday's single-day net inflow reached $580M, the second-largest of the year; Grayscale funds have turned positive again;

2. The US 'Crypto Week' legislation has begun: If the GENIUS Act, CLARITY Act, etc. pass, it will greatly clarify the legal status of Bitcoin and stablecoins;

3. Expectations for Fed rate cuts are warming up: Funds are re-pricing risk assets, and BTC directly benefits from the first influx of capital.

Therefore, this round of increase is the result of a triple resonance of fundamentals, policies, and capital, rather than a manipulation by market makers.

🧠【2. The bull market has shifted from 'price wars' to 'structural revolution'】

Today, I am not looking at price fluctuations, but at three types of opportunities:

🟢 1. Resonance of legislation + ETF: BTC will become the mainstay of 'gold-like assets' for long-term allocation

• Legislative clarity + stabilized ETF channels will gradually allow BTC to compete with gold for the status of 'safe-haven currency';

• Whoever first positions ETF-weighted assets will reap long-term value dividends.

$BTC

BTCUSDT

Perpetual

117,341

-0.16%

🟡 2. ETH transforming into 'on-chain financial sovereign base layer' is not a dream

• BTC Digital has included ETH in corporate reserves, marking the first time I have seen ETH treated as an on-chain financial base by 'nations/institutions';

• In the future, ETH's 'financial identity' will surpass its role as 'fuel';

• My advice: Do not just treat ETH as a bridge asset for L2, but consider it as on-chain government bonds.

$ETH

ETHUSDT

Perpetual

2,939.04

-0.63%

🔴 3. Rare easing of domestic policies; great opportunities lie in the Chinese chain!

• Shanghai state-owned assets discuss the path of digital currency and RMB stablecoins;

• The Hong Kong stablecoin bill is expected to be officially implemented in August;

• My conclusion: The dual stablecoin system of HKD + RMB is taking shape, and the Asian on-chain payment system is undergoing a split.