Brothers, Bitcoin's price has reached 107790 and is about to hit the second target of 109300. The total market cap of the crypto sphere has also reached 3.8 trillion, with Bitcoin accounting for 55.6%, which is 2.1 trillion. It currently ranks seventh in the world, just 0.32 trillion away from sixth-ranked Google. I believe it will surpass them this month. Now, the opportunity for altcoins is approaching. Over the past week, Bitcoin has been accumulating strength, withdrawing 95% of market liquidity, which has caused altcoins to decline without following the rise, including ETH, which hasn't moved much. Now, Bitcoin reaching the 109300 range will likely involve a few days of consolidation. Let's see if altcoins can seize the opportunity to initiate a strong rebound during this time.
As for the outbreak of the altcoin season, it requires ETH's support to rally. Over the past two days, I've observed that ETH has been seeking to break through the 4000 mark. It seems ready to make a push. The upper range of 4250-4350 is still easily reachable. If you bought in around the 3918-3878 range mentioned in yesterday's post, you can consider holding onto it for break-even. As for Ethereum's Layer 2 series, it will naturally follow suit. Everyone can casually pick a few coins to enter the market; a conservative 10%-30% rebound benefit should still be achievable. Please refer to the annotations in the chart for details.
As for the DOGE sector and SOL ecosystem, they should also see some movement, although it may not be as significant as the ETH series. After all, the institutions on Wall Street are heavily invested in Ethereum, including BlackRock, which continues to increase its holdings in Ethereum and has stated that it won't consider other individual coins for ETF investments in the near future, focusing instead on supporting Ethereum's ETF ecosystem. Currently, ETH's market value is underestimated at only 13%. Historically, Ethereum's market cap has been around 20% in each bull market. If we extrapolate based on this data, Ethereum's price could grow by another 50%-100%, and reaching a market cap of 1 trillion shouldn't be a big issue. This is also why, although ETH hasn't surged significantly alongside Bitcoin, it hasn't been negatively impacted by Bitcoin's movements and has been accumulating strength to seek a breakthrough at 4000. So, brothers, if you're looking to enter the spot market next, just choose Ethereum-related assets.
