Why BTC will pull back recently:

1) The situation of the war between Israel and Iraq

Former Mossad intelligence chief said they could strike Iran's nuclear facilities.
This is a big announcement that could lead to the start of the S3 season.
This caused panic in the market, and the market makers took advantage of the situation to sell off and clean up the market.

2) The Fed’s equivocation

Yesterday, Powell said that they are still not very confident about inflation and may maintain interest rates for a longer period of time.
The market is pricing in a rate cut in June, but the chance of a rate hike is now only 1%.

3) Leverage is too severe recently

Greed and Fear Index 🐳qun👉+surrounding: 2327321427 has been above 90, BTC monthly line has been positive for 7 consecutive days, bulls need to adjust for 2 months! In addition, the highly leveraged market needs a deleveraging.
Despite the recent pullback, the money market rate is still positive, indicating that the market is still greedy.

The above is a summary of the recent BTC market, but from the perspective of market share, BTC's market share is decreasing year by year. From this, it can be inferred that the copycat market is likely to take advantage of BTC's rest and develop its own independent market.

Altcoin investment strategy: looking for a quick rebound and future expectations

Value Coin: CKB, W

CKB is completely influenced by the RGB++ ecosystem and serves as the best bridge connecting BTC and Nervos ecosystems. The birth of SEAL, the first protocol asset of the RGB++ ecosystem, has pushed the price of CKB above $0.036. With the improvement of the subsequent asset issuance system and the enhancement of the BTC ecosystem, CKB is expected to rise further.

W is a high-risk bottom-fishing option, and its price has fallen by nearly 20% since its high point. However, in the long run, Wormhole's position in the cross-chain bridge ecosystem cannot be ignored. Although it is difficult to predict the specific time of its resurgence, it can now be included in the watch list and wait for the right time to bottom-fish.

AI: AGIX

Although the AI ​​track is still at the peak of its bubble, it is still a hot track now and in the future, so it cannot be ignored.

AGIX has a high hype value due to its token name. Its main concept is to build a decentralized artificial intelligence platform and market, aiming to build protocols that connect artificial intelligence and machine learning tools and form effective applications. This is in line with the development trend of the AI ​​X Web3 concept, so it is very suitable for bottom-fishing considerations.

Restocking：PENDLE、ENA、ETHFI

PENDLE, ENA, and ETHFI are the most cost-effective options in this field. Although their recent declines are relatively small, in the long run, whether the news of the Ethereum spot ETF is passed or not, there is a certain degree of possibility that they will maintain an upward trend.

RWA：ONDO、MKR

As an intermediary token that connects real-world assets with virtual assets, the current leaders in the RWA track should be ONDO and MKR. ONDO has reached a partnership with BlackRock Fund, so it has a certain reputation in the RWA field. MKR is a veteran DeFi organization that has been buying back its own tokens, so it also has a certain bargain value.

Memecoin：SLERF、TREES

In addition to the good rebound momentum of the above tokens, as a representative track of this cycle, the top players of Memecoin are also performing quite well at present, among which SLERF, BOME, and DEGEN are particularly worth mentioning.

In addition to the Drama opening and the influence of the Meme appeal, SLERF's locked LP and the continuously deflationary economic model determine that the market's expectations for it are growing day by day. Therefore, after experiencing a low point of around $0.22, it has now rebounded to around $0.35. BOME is the leading Memecoin in the SOL ecosystem, and compared with projects such as WIF, its price is lower, so the value of bargain hunting is relatively greater.

Summarize

Of course, the above are just subjective conclusions drawn from personal observations of recent market conditions. In the short term, affected by the world’s political and economic situation, the subsequent trends of many cryptocurrencies including BTC and ETH are still full of huge uncertainties. But one thing is certain: this cycle has not ended, and the bull market has not ended. So, stay patient, be optimistic, and see you in the future.