My expectation is that Total3 will not break support at 570B. Currently, BTC is still very uncomfortable, testing the bottom continuously. The first days of July will be extremely important.
- If ETH ETF is approved, the market will recover well and ETH Eco will be most prominent with L2, Restaking, AI, Meme projects. Last time I said it was the bottom because I believed this was the case.
- But in hindsight, if the ETH ETF is rejected, the market will have a new bottom, BTC will return to the 5x area and Total3 will have to expect a stronger support at the 500-520B area, corresponding to the altcoin will decrease by about 30% from current price range. If this happens, Q3 will be really difficult, Q4 will be the next round of approvals + US presidential election => the market will not recover well until Q1/2025.
- Another possible scenario is that $BTC will collapse 5x next week, altcoins will drop 20-30% of their current price, causing fear and sell-off for the entire market. Then in early July, the ETF was approved and the market recovered => a "cruel" price drop.
Those are the scenarios we see, but the most important thing is our most optimal action
What is that?