Ethereum is seeing multiple positive developments, and a strong upward trend is expected in the future!
Ethereum has been receiving a series of positive news, especially with the launch of the Sepolia testnet on March 5th, which means the Shanghai upgrade is in its final stage and is just one step away from the mainnet upgrade. Historically, Ethereum's price often sees a strong surge after a testnet confirmation.
Additionally, Ethereum's staking ETF has already been submitted, and it may be suddenly approved in the future, although the specific timing is unpredictable, this potential positive news is worth close attention.
Currently, the positive news for Ethereum is accumulating:
- The launch of the Sepolia testnet on March 5th
- The crypto summit on March 7th may bring more policy support
- Followed by the Shanghai upgrade and staking ETF approval
- Strategic reserve inclusion, making ETH a part of the US crypto asset reserve
Recent market performance: ETH has found strong support around $2,100, and successfully broke through to $2,500 yesterday, perfectly realizing the upward trend we expected.
Similarly, the rebound of SOL after the unlocking pressure has also materialized as expected, and the market sentiment is gradually recovering.
Trump's crypto reserve plan, will these 5 coins see a tailwind?
Last weekend, Trump announced that XRP, Solana (SOL), and ADA will be included in the strategic reserve, and emphasized that Bitcoin (BTC) and Ethereum (ETH) are core assets, even directly stating "I really like BTC and ETH". This means that Ethereum's position has also undergone a major transformation.
In the short term, the market attention on these 5 coins will continue to increase, and they have greater advantages compared to other cryptocurrencies. SOL has stronger narrative-driven power and huge growth potential, with core positive factors including: 1. The large-scale unlocking is completed, and the negative impact has been eliminated, the market is refocusing on its long-term value. 2. SOL futures ETF has been approved, and a spot ETF is just a matter of time, likely to be launched in the second half of this year. 3. The FireDancer upgrade and halving are two major technical catalysts that have yet to be released, and are expected to drive the market in the future. 4. The price is still in a halved state, having fallen from the $300 high, the current valuation is relatively attractive.
Looking back at the market, on February 10th, I precisely suggested exiting the market, and pre-warned the short-term positive impact after the March SOL unlocking, and sure enough, after the unlocking, SOL surged nearly 30% in March. I wonder if you all successfully captured this market trend?
A critical turning point in the crypto market is about to arrive!
The latest news shows that Trump will host a unprecedented crypto summit at the White House on March 7th and deliver a speech. Such events have often become catalysts for market reversals, for example:
1. In 2023, Trump's endorsement of BTC at the Bitcoin conference directly drove the price to surge. 2. In July 2021, the B Word conference hosted by Musk, Cathie Wood, and Dorsey ignited market sentiment when Bitcoin was on the verge of collapse, and BTC eventually surged from $29K to $69K, restarting the bull market!
Therefore, the influence of the White House crypto summit should not be underestimated. However, it is worth noting that:
If the market has already risen significantly before the summit, be wary of the "realization of positive news" risk.
Leveraged traders can take profits in advance, while spot holders can continue to hold and bet on the ETH Shanghai upgrade in early April.
Spoofy whale is increasing positions, spot long-term operation strategy: focus on the March 7th crypto summit!
Regarding the positions of the Spoofy whale mentioned in the previous issue, he is still increasing his positions and has bought nearly $1 billion, with his purchase volume almost approaching the total position he had before the previous top. This indicates that Spoofy still has full confidence in the market outlook and continues to deploy.
For us, spot long-term positions are like following the big players, we don't need to rush to exit, and wait for the market to reach the right time to make adjustments. If the market experiences a significant pullback, we can redeploy and seize more opportunities.
In terms of short-term operations, we can pay attention to the crypto summit on March 7th. If the market reaches a high point at that time, we can appropriately take short-term profits. If the summit brings positive news and the market responds, we can then adjust our strategy accordingly and flexibly enter and exit the market.
That's it for today's article. Currently in a bull market, with turbulent developments, we have crypto updates to share every day. If you don't know how to navigate the bull market, welcome to follow our public account, where we can share spot market strategies for free. Let's embrace the bull market, improve our win rate, and avoid being trapped at high positions.
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