After the release of the US CPI data yesterday, BTC rose to above 93,000 points, and fell back to a low of 88,000 points in the evening, a drop of nearly 5,000 points. ETH followed BTC to a high of 3,335 yesterday, but then fell back to the 3,120 support level, with its exchange rate also going up and down sharply, almost reaching a new low. BTC surged to new highs, and the small ones below it were indeed difficult to outperform BTC, which is normal.
Currently, it is still the domain of MEME projects. Yesterday, COIN launched WIF and PEPE, and PNUT surged more than 200% in a single day. Worthless MEME projects have become the main theme of this bull market, mainly because there is indeed no innovation at the moment, and there is a rotation effect in the sector. When the MEME project hype is over, it will also return to the mainstream projects, so don't blindly switch to the sectors that have already risen a lot, otherwise you will easily sell off your chips!
From the trend in the early trading session, it is expected to see the first scenario, which is that ETH will rise, allowing the exchange rate to rebound, driving BTC to continue rising! In this way, the altcoins will also have a chance to rebound!
The entire market has been dominated by BTC and MEME, mainly including the Pepe series, the Pnut series, the Doge series, and other on-chain narratives, such as the art series and the AI series. This wave of MEME narratives has accompanied the rise of Doge, and the ceiling has been completely opened, so everyone needs to have imagination.
When will the MEME market end? One reference point is when the major public chains or institutional VCs come out to do MEME, then the market will basically be over, and you need to consider converting the MEME funds to the mainstream, such as BTC, BNB, etc. This round of BNB hasn't really risen, but the trading volume on the Binance platform has surged, there's no reason for it not to rise.
BTC has always been purchased by overseas institutions and central banks, so everyone sees it rising at night, and Binance has not yet eliminated the premium of CB, which is enough to prove one thing, that is, the big trend has already come, 10w+ is coming soon this month.
In addition, today's news says that the Republicans have taken control of the House of Representatives, so Trump has indeed become the most authoritarian US president in history, controlling the White House, the Senate and the House of Representatives. In the future, the legislative, judicial and executive powers will all be in Trump's hands, which greatly increases the probability of the policy of making BTC a strategic reserve being realized. Trump will not be denied, and with Musk's various open attitudes, the encryption may rise to a price beyond human imagination in the coming time.
To summarize the key points recently:
1: Glassnode's analysts say BTC may soon see a major correction, with profitable ones withdrawing 1/3 of their positions at the bottom, doing risk control, and not making all the money.
2: The US spot BTC ETF has seen net inflows of $514.43 million for 6 consecutive days.
3: The Crypto Fear & Greed Index has risen to 88, the market is still extremely greedy, it is both risk and opportunity, remember to reduce positions and do risk control.
4: Tether has issued 5 billion USDT in the past 5 days, the US dollar pool, the dog owners say they can pull it, it's easy to get.
5: Whenever BTC corrects and fluctuates, it is the time when various altcoin sectors rotate and surge. Currently, many altcoins will take turns to surge, and it will be done in 15 minutes.
6: There will be Nvidia's earnings report next week, the AI sector will be activated, FET, WLD, ARKM, RNDR can be temporarily not switched, waiting for next week's performance!
7: The search heat of BTC on Google ranks first, a large amount of fresh blood is entering, the bull market is not to be talked about, no short.
