After the release of the US CPI data yesterday, Bitcoin went all the way up to above 93,000 points, and then fell back to a low of 88,000 points in the evening, a drop of nearly 5,000 points. Ethereum followed Bitcoin to a high of 3,335 yesterday, but then touched the support of 3,120 again. The exchange rate of Ethereum also went straight up and down, and is about to reach a new low. Bitcoin is rushing to a high point, and it is normal that the younger brothers below find it difficult to outperform Bitcoin.
MM projects are still the main force at present. Yesterday, COIN launched WIF and PEPE, and PNUT surged by more than 200% in a single day. MM, which has no value, has become the main line of this bull market. The main reason is that there is really no innovation at present, and there is a rotation effect in the sector. After the hype of MM projects is over, they will return to mainstream projects. Therefore, don’t blindly switch positions to sectors that have already risen a lot, otherwise it is easy to sell chips!
Judging from the trend of the early trading, it is expected to move out of the first market situation, that is, the Ethereum will rise, so that the exchange rate will rise again, and the Bitcoin will continue to rise! In this way, the cottage industry will also have a chance to recover!
Previously, the entire market was based on Bitcoin and memes, mainly the pepe series, pnut series, doge series and other on-chain narratives, such as the art series and AI series. This wave of meme narratives accompanied the rise of doge, and the ceiling was completely opened, so everyone should have imagination.
When will the Meme market end? One reference is that major public chains or institutional VCs come out to make memes. At this time, the market is basically over, and you have to consider converting meme funds to the mainstream, such as BTC and BNB. This round of BNB has not increased at all, but the platform trading volume on Binance has skyrocketed. There is no reason not to increase.
Bitcoin has always been purchased by overseas institutions and central banks, so the rise we see is late. Binance has not yet wiped out the premium of CB, which is enough to prove one thing, that is, the big trend has come, and it will soon reach 100,000+ this month.
In addition, the news today said that the Republicans took control of the House of Representatives. From this point of view, Trump has indeed become the most centralized American president in history, controlling the White House, the Senate and the House of Representatives at the same time. In the future, legislative, judicial and executive powers are all in Trump's hands. This greatly increases the probability of realizing the policy of Bitcoin becoming a strategic reserve. Trump will have the final say, and coupled with Musk's open attitude, I am afraid that in the future, the price of cryptocurrencies will rise to beyond human imagination.
To summarize recent highlights:
1: Analysts from Glassnode, a crypto data provider, said that Bitcoin may soon experience a major correction. Those who are profitable should sell one-third of their positions at the bottom and do a good job of risk control. There is endless money to be made.
2: The U.S. spot Bitcoin ETF has seen net inflows of $514.43 million for six consecutive days.
3: The cryptocurrency fear and greed index has risen to 88. The market is still extremely greedy. It is both a risk and an opportunity. Remember to reduce your positions for risk control.
4: Tether has issued 5 billion USDT in the past 5 days. It is a reservoir of US dollars, and the dog dealers can pull it up at will.
5: Every time the big bitcoin price falls back and fluctuates, it is the time when various altcoin sectors will take turns to soar. Currently, many altcoins will take turns to soar, and it will take only 15 minutes to start.
6: Next week there will be Nvidia’s financial report, and the Ai sector will be activated. You can stay away from changing positions in fet, wld, arkm, and rndr for now, and wait for their performance next week!
7: Btc ranks first in Google search popularity, a large number of fresh blood enters the market, the bull market has no peak and no short selling.
