BTC failed to break through the psychological threshold of $100,000 as the market expected, peaking at 99,588u before quickly retreating. It once dropped to around 90,866u, and the current price has rebounded to above 92,000u. The drop from the high point is 8.85%, and it currently looks more like a normal technical correction.
What is the reason BTC has yet to break through the $100,000 mark?
The source of some selling pressure is gradually becoming clear:
Large-scale selling by long-term holders: Data shows that recently, long-term Bitcoin holders have cumulatively sold 128,000 BTC, causing market pressure.
Spot ETFs absorbed the selling pressure: Nevertheless, BTC spot ETFs absorbed about 90% of the selling volume during the same period, indicating that the market's承接力 remains strong.
Since April 2024, the profit-taking willingness has reached new high levels. This indicates that the market may face fluctuations in the short term, but the long-term outlook remains promising.
In fact, the correction of BTC is not the key point of the current market; the focus is that ETH and altcoins have not fallen in sync.
From the data, BTC's market share has begun to show signs of decline at a high level, and it may gradually enter a downward trend. This may indicate that new opportunities are brewing for the altcoin market—potentially marking the start of the altcoin season.
At present, the vast majority of altcoins are still at low levels, and as the sectors rotate, funds are expected to gradually flow into the altcoin market. Therefore, the most important strategy at this stage is to maintain a stable mindset and avoid frequently chasing highs and cutting losses due to short-term market fluctuations, missing potential profit opportunities.
Currently, the old mainstream public chains, meme, and GameFi sectors have shown significant rises. Next, we can focus on the following sectors and core projects:
Sectors and projects worth paying attention to:
ETH ecosystem: ENS, PENDLE, UNI
RWA sector: POLYX, RIO, TRU
Public chains: TIA, SUI, SEI
Solana ecosystem: JTO, BOME, BONK, RAY
AI sector: RNDR, FET, LPT, ACT
The AI sector has not yet welcomed a full-scale launch, while established mainstream sectors may enter adjustments in the short term.
Additionally, the meme sector (such as ACT, PNUT) may still welcome a new wave of market activity. A strong bullish candle can reverse the negative market sentiment; after all, the whales are more eager than anyone to push the market forward. As for the market rumors about CZ's attitude towards the meme sector, it is temporarily unnecessary to pay too much attention; the flow of funds is the key signal!
Today's quality coin recommendations for small lambs
1, PRIME
PRIME is a project that integrates the two popular narratives of gaming and AI, backed by strong support from Paradigm.
As the game ecosystem token for the sci-fi card game Parallel, PRIME has shown strong performance over the long term, worthy of attention.
At the same time, as an AI pathfinder, Prime Chain stands at the intersection of AI and Crypto, making it a standout in this type of game, a potential stock not to be missed in the AI x Crypto field.
2, ACT
ACT is a community formed around the idea of 'promoting the future of AI.' As an AI meme coin, it does not possess traditional technical applications, nor is it an AI agent.
The goal of the ACT community is to promote the development of AI memes through various possibilities. Currently, many AI agents have begun to work around the ACT ecosystem.
As the only AI meme coin listed on major exchanges, ACT actually represents an index of the AI meme track and is a barometer in this field, worthy of long-term attention.
3, TIA
As a leader among modular new public chains, TIA has just broken through its historical high. In the context of an overall market correction, TIA can rise against the trend, demonstrating the strong strength of the whales behind it.
From a technical perspective, the weekly K-line pullback has basically ended, and on the daily level, TIA quickly rebounded just by touching the 5-day moving average, showing typical characteristics of a strong coin.
In the short term, TIA is expected to continue rising, and is anticipated to easily reach around 12u.
4, ENS
ENS is the leading coin in the domain ecosystem and is the representative project of Ethereum domains. As a token favored by Vitalik Buterin, ENS is closely related to ETH. Following ETH's rebound, ENS experienced a strong rise, and trading volume also showed explosive growth.
ENS, based on the Ethereum blockchain, is a decentralized domain name system aimed at addressing the shortcomings of traditional domain name systems. ENS allows domain owners to enjoy complete control while providing higher privacy protection, and has broad long-term development potential. $ENS $TIA $ACT
