Yesterday’s decline was definitely related to U.S. Treasury bonds. Let’s summarize the recent news and think about it.
Powell said only one sentence at the press conference: The U.S. national debt will no longer be sustainable.
As soon as this statement came out, the market plummeted. The decline has not ended yet. It will have to fall to at least the 7th to end. Wait for the news from the US Congress to come out and borrow new debt to repay old debt.
Combined with the news from the past two days, we can roughly understand that the US dollar was said to control inflation at 2% two days ago. There is a high probability that it will continue to flood the market with money to repay new and old debts on July 8, but it will continue to cause high inflation. The news was released in advance two days ago to stabilize the market.
If you want to make a big profit, you should buy the dip before the news comes out and when all the bad news is out. However, there will be a worst-case scenario, which is that the United States allows the credit of the dollar to collapse. Then a real bear market will come, and there will be a super waterfall. This is an opportunity where risks and opportunities coexist.
Originally, this bull market was just as everyone expected and might have continued to set new highs. Unfortunately, the US dollar played the role of a market crasher in this bull market.
The current advice I can give you is to hold the spot and don't touch the contract. If you want to buy at the bottom, you can wait until the Bitcoin price drops below 52,000. If the second phase of the Mentougou compensation begins, the Bitcoin price will definitely plummet after the news is released. If you don't know how much selling pressure there is, you can refer to the last Grayscale sell-off.
Weekend market picks up! 4 cryptocurrencies have the potential to explode 100 times!
1.BCH
Bitcoin Cash (BCH) gained 143% in six weeks, surging from $260 to over $600 before experiencing a correction. On the weekly chart, BCH price formed an evening star pattern and struggled to stay above $500.
Recently, BCH price retested the critical level of $350 or the 50-day exponential moving average (50D EMA). However, strong buying pressure quickly drove BCH price back up. This successful reversal reflects huge underlying demand and foreshadows the formation of a Morning Star pattern in the weekly Golden Cross.
As the bullish momentum continues to build, the BCH price is currently eyeing the $600 level. The market momentum is expected to continue to increase and the price of this altcoin is expected to touch the $700 threshold.
2. BABY
Inspired by a popular meme, Pepe has attracted attention for its community-driven approach and viral potential. At the end of May 2024, Pepe's price hit an all-time high of $0.000017, but then fell as bullish momentum waned. Within just one year of its launch, Pepe quickly became the third-largest memecoin with a market cap of $4 billion.
We believe that PepeCoin can attract public interest and generate hype, leading to a significant price increase. Since its inception, Pepe's market capitalization has increased by a staggering 16,590.05%.
With the bullish breakout of $0.00001718, Pepe price is expected to reach new highs if the overall market recovers and bulls push the price above $0.000030. Theoretically, in this bull run, we predict that Pepe may reach the psychological threshold of $0.000070.
3. ENS
Ethereum Name Service (ENS) has been making headlines recently. ENS is a decentralized name service built on the Ethereum blockchain that aims to simplify the use of long and complex blockchain addresses by providing human-readable names. Since its launch, ENS has steadily grown in adoption and usage, becoming an important part of the Ethereum ecosystem.
Since December 2023, ENS has performed strongly, rising from $8.81 to $30, an increase of more than 185%, and is expected to reach a new all-time high of $85.69 this year. We believe that as more institutions like BlackRock begin to use Ethereum, demand for ENS will grow, making it a valuable asset.
The most recent announcement from the crypto naming service provider concerns ENSv2. According to their blog, the upgraded version is designed to improve the affordability, flexibility, and scalability of ENS. Initially announced in May, the version is about to be launched and has a significant impact on market prices. However, the developers have not yet revealed the exact release date of this upgrade.
4.OK
ONDO’s price has been in consolidation for the past two weeks, during which the $1.07 support level has been tested multiple times. While the altcoin has not yet broken below this support level, a push by whales could do so.
However, support from retail investors could prevent this from happening, allowing the price to bounce off this support level. The likely outcome is that ONDO continues to consolidate.
However, this has upset other investors who are trying to prevent a sharp drop in prices. Retail investors have been focused on hoarding coins rather than selling for any reason. This is evidenced by the increase in medium-term holders (those who hold the supply for more than a month). This group of investors has increased their share of the circulating supply from 34% to 72%. At the same time, short-term holders who tend to sell have lost their dominance, sliding from 53% to 22%.
#VanEck提交首个SolanaETF #BTC走势分析 #Mt.Gox将启动偿还计划 #德国政府转移比特币 #美国6月非农数据高于预期
Again, at this stage, we are planning some good currencies
Believe, be interested, want to witness the strength
You can leave a comment 999, free entry
