Folks, this is incredible! There is new news about Bitcoin's strategic reserve: the U.S. will purchase 500,000 BTC on this day!?
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Data analysis on ETH, Sol, and Sui chains: which coin will soar? Let's take a look with Shu Qin.
First is today's front-page headline: Trump is about to take office. Will the U.S. really make Bitcoin a strategic reserve? Is there any news?
Wow, I didn't realize until I checked: Anthony Scaramucci, founder of SkyBridge Capital, revealed in an interview that the U.S. might purchase 500,000 BTC, as the Bitcoin strategic reserve bill is expected to pass in the Senate.
Scaramucci stated that he has maintained close contact with several legislators, and to his knowledge, Senator Cynthia Loomis's Bitcoin strategic reserve bill has already gained bipartisan support and has a good chance of passing. The CEO of SkyBridge Capital also stated that 50% of his personal assets are in Bitcoin. Wow, it seems this Wall Street giant really has some insider news.
The proponent of the bill, Loomis, also stated that the bill is expected to be passed around the 100th day of Trump's presidency, which is mid-April this year.
So the situation is clearer now: Trump's presidency will not directly lead to the approval of the Bitcoin strategic reserve bill, but it will promote the bill's passage. The Republican Party currently holds an advantage in both houses, so Bitcoin is likely to become the national strategic reserve of the U.S. in April, which will be the narrative for the crypto market moving forward.
And in April, there will also be Ethereum's Prague upgrade, which overlaps with both, so I can say I've never been this excited about the future trend of the crypto market.
Besides that, Solana seems to have broken through and is expected to welcome a second wave of growth. Everyone, look at the chart.
Now, Sol has clearly broken through the previous downward trend line, and it should be able to rise significantly. Because last year at this time, Sol also started to adjust in December, then broke resistance in January, and two months later, it increased by a total of 2.5 times from its low point, which translates to over 400 now.
If it is a bear market, look at the trend from half a year ago: Sol also surged after breaking through the downward trend line, at least reaching near the previous high. So, calculated to now, it would be around 260 for the previous high. Therefore, regardless of the type, this Sol seems to be on the verge of a trend.
Of course, the probability of reaching over 400 is greater because, as we mentioned at the beginning, the next few months will involve Bitcoin reserves, Ethereum upgrades, and possibly even Sol's ETF. These are all very positive factors.
Its on-chain data also supports this: weekly trading volume surged by 42%, far exceeding other chains. This could be due to the recent popularity of the AI Agent sector. In any case, Sol's trading volume has now dominated the entire network, becoming the public chain with the largest transaction volume. Of course, much of this is a result of robotic quantitative arbitrage, as actual effective trading is not as much as Ethereum.
As for Sol's TVL, it is 3 billion, which is significantly lower than Ethereum's 12.7 billion, but it is still firmly in second place across all chains. Overall, I think Sol is quite good.
Additionally, Sui has been performing really well recently, with its price repeatedly breaking historical highs, and its data is indeed impressive. Excluding the third and fifth scaling networks, Sui's TVL and trading volume have reached the fourth-highest in the whole network.
However, everyone should note that its total market value has reached 50 billion, equivalent to half of Sol or BNB's market value, but its TVL and trading volume are far less than half of these two chains. So, from the data perspective, Sui is somewhat overvalued. We're not hyping or criticizing, just rational analysis.
Speaking of Sui's price, it reminds me of its previous IPO/public offering price, which was only 0.1 USD. After it launched, the price skyrocketed by over ten times, and if you got in at that time, it has increased by more than fifty times now, which is just ridiculous.
For instance, the recently listed BIO on Binance has a price of around 0.7 USD, but do you know what its presale price was? If you participated in the first round, it was only 0.025, and the second round was 0.043 USD, a direct multiple of dozens of times. Those who participated are indeed very lucky; this project is quite good. So now, Shu Qin is particularly focused on early opportunities or extracting value from some top projects with major VC investments.
For short-term operations, we advised everyone to escape the peak of the AI sector, because after the Nvidia CES conference on the 6th, it will start to adjust after the good news is fully priced in. I'm really satisfied with this wave of 25% gains. After selling, you might consider switching to the next hot spot, Doge, because there is still plenty of room before Musk takes office on the 20th. I believe it should at least reach the previous high of 0.48, and it might even challenge around 0.61.
Additionally, we bought Bitcoin around 97,200 and sold at 100,000 for profit. Now that it has broken through, I think waiting for it to pull back to around 100,000 could be a good opportunity to consider re-entering, as this could be a particularly classic breakout and pullback entry. I hope everything goes smoothly, and these operations are updated in real-time every day; if you're interested, feel free to check it out.
Next, let's talk about on-chain data; everyone, look at the chart.
Although the current price has not returned to the December high, did you know that the Bitcoin inventory on exchanges has hit a new historical low? This indicates that large holders have been buying Bitcoin on exchanges and transferring it to their cold wallets, which is a very clear buying signal. Large holders are still in the phase of accumulating chips rather than transferring coins to exchanges to start selling.
If you look back at previous instances of massive withdrawals over a long period, they are often signals of a bull market starting. For example, at the beginning of 2021, Bitcoin rose from 20,000 to 65,000 in April, and at the beginning of 2023, it rose from 17,000 to over 30,000, both ending with at least a doubling.
From the higher-end options market perspective, Bitcoin call option open interest is twice that of put options, with the largest position being a 120,000 Bitcoin call option expiring in March, followed by 110,000 and 150,000.
So now, whether from on-chain data or Wall Street data, the crypto market is on the brink of another explosion. This is a huge opportunity, and you must seize it!
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