Ethereum is having possibility for a rally. There are a lot of catalyst around it recently.
The biggest one is the Genius act.
The genius act is basically about the opening door for the stablecoins to become legal in US. The objective is to absorb foreign liquidity into US through the stablecoins usage. That's why DeFi sector will have its run and also ETH, the biggest L1 in term of the DeFi ecosystem.
Based on chart, it looks to be the strongest. ETH/BTC is forming a bullish pennant and ETH/USDT is forming a bullish flag.
Key level to watch is $2.85k for ETH which is currently becoming the strongest resistance. Breaking above this, we could see $3.4k easily.
If you want to catch beta on this, you can look for play into DEFI token in ETH ecosystem. Some of them are very hot too.
The biggest one is the Genius act.
The genius act is basically about the opening door for the stablecoins to become legal in US. The objective is to absorb foreign liquidity into US through the stablecoins usage. That's why DeFi sector will have its run and also ETH, the biggest L1 in term of the DeFi ecosystem.
Based on chart, it looks to be the strongest. ETH/BTC is forming a bullish pennant and ETH/USDT is forming a bullish flag.
Key level to watch is $2.85k for ETH which is currently becoming the strongest resistance. Breaking above this, we could see $3.4k easily.
If you want to catch beta on this, you can look for play into DEFI token in ETH ecosystem. Some of them are very hot too.
Bitcoin
Price is now entering consolidation area in the lower time frame but it looks like a different story if we zoom out a little bit as well.
The problem in the market right now is the size of the volume even on BTC. It's very low and that's why we have moved in a very very slow price action.
However, things need to be clear as there are a lot of short sellers are over exposed into the position.
I'm expecting a squeeze as majority is in short position as of now with the liquidation price is stacking between $108k - $111k region.
Also, the open interest is reaching out the highest ever which could be a cascading event for the short sellers.
We need to watch this with a lot of patience as the volume is extremely low.
My guess is there will be a grinding slow to $110k with multiple longs getting liquidated before it spiked to $115k level.
Watch.
Price is now entering consolidation area in the lower time frame but it looks like a different story if we zoom out a little bit as well.
The problem in the market right now is the size of the volume even on BTC. It's very low and that's why we have moved in a very very slow price action.
However, things need to be clear as there are a lot of short sellers are over exposed into the position.
I'm expecting a squeeze as majority is in short position as of now with the liquidation price is stacking between $108k - $111k region.
Also, the open interest is reaching out the highest ever which could be a cascading event for the short sellers.
We need to watch this with a lot of patience as the volume is extremely low.
My guess is there will be a grinding slow to $110k with multiple longs getting liquidated before it spiked to $115k level.
Watch.
We're in a very slow type of the market movement as of now as majority of the people are still in the 'wait and see' condition.
Macroeconomic factor is becoming the main reason of why the overall market is in the boring type as well. Trade talk between China and US which is being held right now, still giving us a lot of uncertainty too.
However, I started to see the confidence from the market participant to gain as well. Investor's exposure to global risk on asset is increasing after the previous month's dip which was a lowest point ever since Covid.
I'm expecting a run very very soon but we should be wise to identify our next entry. Unless you're a professional investors, you should be extra patience with the current market condition.
As I said, this June will be bullish but also it'll be very boring for all of the market participants. But after all of the pain that we've suffered during the first quarter this year, I can finally say, it's game on.
Hopefully, we get some good news as catalyst soon so that momentum doesn't fade.
Macroeconomic factor is becoming the main reason of why the overall market is in the boring type as well. Trade talk between China and US which is being held right now, still giving us a lot of uncertainty too.
However, I started to see the confidence from the market participant to gain as well. Investor's exposure to global risk on asset is increasing after the previous month's dip which was a lowest point ever since Covid.
I'm expecting a run very very soon but we should be wise to identify our next entry. Unless you're a professional investors, you should be extra patience with the current market condition.
As I said, this June will be bullish but also it'll be very boring for all of the market participants. But after all of the pain that we've suffered during the first quarter this year, I can finally say, it's game on.
Hopefully, we get some good news as catalyst soon so that momentum doesn't fade.
All of these Israel v Iran narrative has been becoming the headlines almost on every news anchor that I can read.
Please always remember that anything about the FUD coming into the market is the opposite of what actually is the whales doing.
All of this mainstream medias have been becoming a manipulation tool for you to take the opposite action of what's the true things to do.
So when the media is mentioning the potential of world war 3, it's becoming narrative and all of these stupid people will sell their bag according to the media headlines.
However, most money are made during the extremities in fear in the market. Not when the market is steady as well.
If it dips further, I'm becoming the buyer for BTC. Easy.
Please always remember that anything about the FUD coming into the market is the opposite of what actually is the whales doing.
All of this mainstream medias have been becoming a manipulation tool for you to take the opposite action of what's the true things to do.
So when the media is mentioning the potential of world war 3, it's becoming narrative and all of these stupid people will sell their bag according to the media headlines.
However, most money are made during the extremities in fear in the market. Not when the market is steady as well.
If it dips further, I'm becoming the buyer for BTC. Easy.
The reason of why current cycle is becoming the hardest ever cycle is mainly because of the macroeconomic condition. The tariff thing, middle east tension, and a lot of drama in the macro level has shown us that the monetary system is the one which structurally is broken.
However, I don't see nothing broken in term of the BTC's current fundamental. As I always stated over and over again, the BTC formula is actually the global liquidity. As long as the global liquidity is rising, the price of BTC will also rise over time, although there will be lagging in it.
In this cycle, it's way more difficult to analyze the BTC's movement because this asset is more mature compared with 4 years ago. That's why the market is becoming more efficient and that's quite a thing for us, the traders. However, it will obviously going good if we can survive current choppiness in the market.
For altcoins, I'm still a little bit sceptical but I do think it could be a rally which could actually save a little bit of our days.
I'm no longer aped into the low cap because risk is at the unidentifiable level. I'm not willing to risk my capital into it.
Holding strong BTC if you want to save the day!
However, I don't see nothing broken in term of the BTC's current fundamental. As I always stated over and over again, the BTC formula is actually the global liquidity. As long as the global liquidity is rising, the price of BTC will also rise over time, although there will be lagging in it.
In this cycle, it's way more difficult to analyze the BTC's movement because this asset is more mature compared with 4 years ago. That's why the market is becoming more efficient and that's quite a thing for us, the traders. However, it will obviously going good if we can survive current choppiness in the market.
For altcoins, I'm still a little bit sceptical but I do think it could be a rally which could actually save a little bit of our days.
I'm no longer aped into the low cap because risk is at the unidentifiable level. I'm not willing to risk my capital into it.
Holding strong BTC if you want to save the day!
I think we're now entering the most crucial time of the year or if not, the most crucial time in the cycle. Starting from today until the end of the year, we have to be very cautious. Not from the industry's perspective but it's more from the macro side. These are becoming my current concern in the market.
1. There will be the tariff deadline on July 9th, need to watch but it is very likely to be nothing burger.
- As we know that on the recent condition, we haven't seen any sign of significant deal coming on the trade deal and it's kind of worrying. It's also biased on the current condition whether the S&P500 tag above ATH is the price in for the bad tariff deal or not.
- Trump also stated that there is not likely a deal can come with Japan. This is also significant concern as Japan is one of the biggest trading partner with US.
2. There is a lot going on related to Powell's accusation
- I think, this is more of political movement that want to forced Powell to resign as soon as possible because current government in control doesn't like things that Powell is doing (Mr. Too late). However, if this thing escalate quickly, it could be a concern for the investors as they don't want any clash happening on the authorities.
- As per my analysis, I think that Powell is being targeted by the current government in control. Trump's side is like giving the Powell only 2 choice, it's whether to cut the rate or just resign.
3. Above all, what is becoming my biggest concern is the altcoins space.
- I've been sharing a lot of things about my pessimistic stance on the altcoins which is currently doesn't get liquidity in it.
- However, it looks like there is a glance of hope after we see some of the ETFs are now proposing altcoins. On the latest event, we see the Solana staking ETF took place. Although I know that this ETF is not the real ETF, it still doesn't attract any investors in it.
- If after this altcoins ETF summer finishes and the price of altcoins are still in the floor like now, I think that hope is gone for the altcoins season. It will take years to recover.
At last, I'm still becoming a bull in this current market condition and believe of my thesis that minimum of $120k /BTC before the end of the year as our company's base case scenario. However, I also want to remind you that during the upside movement, there will be a lot of events that can make the volatility to be very very extraordinary as well.
I'll give more update when I see certainty in the market condition.
1. There will be the tariff deadline on July 9th, need to watch but it is very likely to be nothing burger.
- As we know that on the recent condition, we haven't seen any sign of significant deal coming on the trade deal and it's kind of worrying. It's also biased on the current condition whether the S&P500 tag above ATH is the price in for the bad tariff deal or not.
- Trump also stated that there is not likely a deal can come with Japan. This is also significant concern as Japan is one of the biggest trading partner with US.
2. There is a lot going on related to Powell's accusation
- I think, this is more of political movement that want to forced Powell to resign as soon as possible because current government in control doesn't like things that Powell is doing (Mr. Too late). However, if this thing escalate quickly, it could be a concern for the investors as they don't want any clash happening on the authorities.
- As per my analysis, I think that Powell is being targeted by the current government in control. Trump's side is like giving the Powell only 2 choice, it's whether to cut the rate or just resign.
3. Above all, what is becoming my biggest concern is the altcoins space.
- I've been sharing a lot of things about my pessimistic stance on the altcoins which is currently doesn't get liquidity in it.
- However, it looks like there is a glance of hope after we see some of the ETFs are now proposing altcoins. On the latest event, we see the Solana staking ETF took place. Although I know that this ETF is not the real ETF, it still doesn't attract any investors in it.
- If after this altcoins ETF summer finishes and the price of altcoins are still in the floor like now, I think that hope is gone for the altcoins season. It will take years to recover.
At last, I'm still becoming a bull in this current market condition and believe of my thesis that minimum of $120k /BTC before the end of the year as our company's base case scenario. However, I also want to remind you that during the upside movement, there will be a lot of events that can make the volatility to be very very extraordinary as well.
I'll give more update when I see certainty in the market condition.
JUST IN: TRUMP ON FED CHAIR POWELL: “HE’S LEAVING VERY SOON. I’LL MISS HIM”
Remember the 24,000 BTC whale dump that shook the market two weeks ago? 🐋💥
We’re still feeling the ripple effects today.
In my breakdown, I cover:
What triggered that $2.7B sell-off
The $550M liquidation wave
How whales keep exploiting weak hands
📌 Full analysis here: https://blog.mexc.com/news/the-2-7-billion-bitcoin-whale-crash-how-24000-btc-triggered-550m-in-liquidations/
We’re still feeling the ripple effects today.
In my breakdown, I cover:
What triggered that $2.7B sell-off
The $550M liquidation wave
How whales keep exploiting weak hands
📌 Full analysis here: https://blog.mexc.com/news/the-2-7-billion-bitcoin-whale-crash-how-24000-btc-triggered-550m-in-liquidations/
MEXC Blog
How 24,000 BTC Triggered $550M In Liquidations
In the crypto space, innovation is never a solo journey. It thrives on partnerships, collaborations, and ecosystems working together to push the industry forward. One of the most exciting parts of following MEXC isn’t just the exchange’s low fees or trading…